Mobile payment, also referred to as mobile money, mobile money transfer and mobile wallet, is any of various payment processing services operated under financial regulations and performed from or via a mobile device. Instead of paying with cash, cheque, or credit card, a consumer can use a payment app on a mobile device to pay for a wide range of services and digital or hard goods. Although the concept of using non-coin-based currency systems has a long history, it is only in the 21st century that the technology to support such systems has become widely available.
Mobile banking is a service provided by a bank or other financial institution that allows its customers to conduct financial transactions remotely using a mobile device such as a smartphone or tablet. Unlike the related internet banking it uses software, usually called an app, provided by the financial institution for the purpose. Mobile banking is usually available on a 24-hour basis. Some financial institutions have restrictions on which accounts may be accessed through mobile banking, as well as a limit on the amount that can be transacted. Mobile banking is dependent on the availability of an internet or data connection to the mobile device.
Telenor Pakistan (Pvt.) Limited is a Pakistani wireless network operator headquartered in Islamabad, Pakistan. Khurrum Ashfaque is the current chief executive officer (CEO).
The Bank of Punjab is a Pakistani bank which is based in Lahore, Punjab, Pakistan. It serves Pakistan and functions as an International Bank and is one of the prominent financial institutions of the country holding AA ratings from Pakistan Credit Rating Agency (PACRA).
A banking agent is a retail or postal outlet contracted by a financial institution or a mobile network operator to process clients’ transactions. Rather than a branch teller, it is the owner or an employee of the retail outlet who conducts the transaction and lets clients deposit, withdraw, transfer funds, pay their bills, inquire about an account balance, or receive government benefits or a direct deposit from their employer. Banking agents can be pharmacies, supermarkets, convenience stores, lottery outlets, post offices, and more.
Wizzit is a provider of basic banking services for the unbanked and underbanked in South Africa. Its services are based on the use of mobile phones for accessing bank accounts and conducting transactions, in addition to a Maestro debit card that is issued to all customers upon registration. Wizzit is a branchless banking business, meaning that its services are designed so that customers can generally conduct transactions without the need to visit bank branches.
Fortumo was an Estonian company which developed a platform for digital service providers for user growth and monetization.
O2 Money is a range of financial services provided by O2 in the United Kingdom.
The National Payments Corporation of India is an organization that operates retail payments and settlement systems in India. The organization is an initiative of the Reserve Bank of India (RBI) and the Indian Banks’ Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust Payment & Settlement Infrastructure in India.
The Special Communications Organization (SCO) (Urdu: تنظیم برائے مواصلاتِ مخصوصہ) is Pakistani public sector organization operated by MoIT&T. SCO plays a role in providing telecommunication services in Azad Kashmir and Gilgit Baltistan to almost 1.7 million people, a quarter of the total population.
Lemon Wallet was a cloud-based digital wallet that allowed users to store digital copies of credit cards, debit cards, reward cards, as well as identification, and other card information. The service was released in July 2011 and the company is based in Palo Alto, California, United States. Wences Casares was the company's CEO.
Pakistan's e-trading mainly involves buying and selling goods, and services using internet or telephone, through the use of electronic means such as computer, fax machine, cellular phone, automated teller machines (ATMs), and other electronic appliances with or without using the internet. Online banking, e-tickets, share trading in stock exchange are few examples of e-commerce of modern advancement. With its potential, e-trading can reduce the cost per transaction, increase efficiency, support contest, lower prices and boost international demand. It can open new areas for business in the service sector like online education, medical services, consultancy, and data exchange. It can also provide expansion in trade through domestic and international market research, advertising and marketing. In the financial services area, it can make easy and speedy transactions and transfer of money at a minimum risk. The interesting feature of online trading is that an investor simply sitting in his office or home can buy or sell through the Internet via mobile/tablet or PC and before being an experienced trader he may learn a lot by watching market screens or web portals at his convenience.
Oxigen Services is an Indian fintech company. It is involved in the micropayment of services and remittances in real time.
Monis Rahman is a Pakistani internet entrepreneur, venture capitalist and businessman. Rahman is the co-founder and executive chairman of Naseeb Networks, Inc. a business-oriented social network used primarily for online job recruiting. Rahman has been listed among the top entrepreneurs of 21st century several times. Forbes named him at #6 on its list of top "Ten Big Hitting Asian Businessmen under 50".
Pakistan Mobile Communications Limited (PMCL), doing business as Jazz, (Urdu: جاز) is Pakistan's largest mobile network and internet services provider formed by the merger of Mobilink and Warid Pakistan.
JazzCash, formerly known as MobiCash, is a Pakistani mobile wallet, mobile payments, and branchless banking services provider. It was launched in November 2012 as MobiCash by Mobilink in partnership with their subsidiary bank Mobilink Microfinance Bank. It has a market share of 64 percent in mobile money activity.
Kakao Pay (Korean: 카카오페이) is a mobile payment and digital wallet service by Kakao based in South Korea that allows users make mobile payments and online transactions. The service supports contactless payments using near-field communications and QR codes.
Brandon Timinsky is an American entrepreneur and public speaker. Brandon co-founded GasNinjas, a fuel delivery startup acquired by Silicon Valley-based Exajoule. Timinsky's previous projects include a digital agency, social media marketing services, two real estate technology platforms, wearables, and an automotive focused e-commerce business.
Telenor Microfinance Bank, formerly Tameer Microfinance Bank, is a Pakistani microfinance bank which is based in Karachi, Pakistan. It was founded in 2006 by Nadeem Hussain as Tameer Microfinance Bank, which was later acquired by Telenor Pakistan.
vcash was a Malaysian digital wallet and online payment platform established in Shah Alam in November 2017, by Digi Telecommunications, a subsidiary of Telenor Group. vcash allowed users to make payments in local stores via a QR code, pay bills, top-up prepaid mobile phones, and do P2P transfers. Despite being a Digi product, user registration and usage of this service was opened to both Digi and non-Digi customers. Its competitors were GrabPay, Touch 'n Go eWallet, and Axiata's Boost. On 1 November 2019, Digi announced they were discontinuing vcash on 30 November 2019, two years after its launch, which were attributed to stiff competition from competitors that provide rewards to their users to retain customers in their services.
