ISLAMABAD: Chairman Pakistan Telecommunication Authority (PTA) Dr. Muhammed Yaseen said World Bank study reveals that only 12 per cent of the adult population of Pakistan has access to formal banking services while just 24 million out of 170 million people in the country have bank accounts.
"Today only technology in Pakistan can bridge the digital divide," the PTA chairman said at the 4th International Mobile Commerce Conference-2011.
Muhammad Yaseen received an award as "Visionary Telecom Leader 2010", said a press release.
The conference was attended by CEOs of banking and telecom companies. Addressing to the conference as Chief Guest, Dr. Mohammad Yaseen said PTA has been working with the State Bank on third party regulations and it would come up with these regulations this year.
Considering the scope he added that PTA would like to introduce third party payment system with help of State Bank.
The introduction of third party payment networks also known as MPSP (Mobile Payment Service Providers) would be of immense advantage since these third-party payment handing agents can work with many providers, rather than the closed networks.
"We could foresee opportunities for service providers (both from Banks and Mobile Sector) who move quickly to create new products, especially if they can establish shared networks of third party agents," he remarked.
He said mobile-money is still in its emerging phases. There is consensus that regulations must be implemented gradually and designed to evolve as the industry expands and matures an approach that seeks to respond to risks in the mobile money space as they emerge.
"Our Regulatory responses should then be proportional to the risks," he remarked.
Chairman PTA said another critical concern will be consumer trust. Consumer protection is critically important in the mobile money space. The need will become even more pressing as the industry expands into un-banked segments.
"We will for sure address this critical factor as well while enabling true mobile commerce system for the people of Pakistan," he said.
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