Dr Yaseen said billions of mobile and online internet users worldwide are creating huge opportunities for the development of new means of commerce like e-commerce and m-commerce. However, the industry’s growth and its development impact can only be maximized, if stakeholders work together towards identifying the appropriate policy and business models that can achieve scalability. He said, “we have joined hands with the State Bank of Pakistan to produce an all inclusive mobile banking regulatory frame work which is to be finalised very soon”. He said the global mobile money industry has grown significantly in size and scope and there are various modes of transactions via your bank branch, call centers, IVR, ATM online and mobile phones. Amazingly, the lowest of all is mobile money transaction costing around $0.08 per transaction. He said the mobile money not only provides convenience but the lowest transaction cost as well, according to the World Bank, Pakistan is amongst the top 20 remittance – receiving economies with a size of $6.1 billion by 2007. This proves realistic market availability for kick starting various modes of mobile money, he added.

(Source: DailyTimes)

Chairman PTA said that the primary objective of this collaboration is to develop a unified regulatory framework to facilitate the customers of telecom and banking sectors both at a time, since mobile banking involves both financial institutes and mobile phone operators. Telecom sector of Pakistan has shown phenomenal growth in the past few years which has resulted in the expansion of subscriber base and it has also opened up new doors of business opportunities in the telecom sector.

While addressing to a press conference held here today by Nokia Siemens Networks, he further added, Pakistan has overall 63% teledensity while it has great potential for broadband proliferation. Presently there are around 5 lakh broadband subscribers in Pakistan. The broadband subscriber base has grown by 146% in the last fiscal year. He said that it is for the first time that broadband connection charges for 1Mbps connection has dropped below Rs.1000/- providing unusual incentive to new broadband customers.

With such advancement in IT sector in short period of time, PTA is looking to bring revolution in mobile banking, working on Third Party Mobile Banking Regulations. With this all banks will be connected to all mobile operators of the country.

This will surely bring a revolutionary change in banking as having mobile banking in your hand is simply an ease to life. But let’s wait when this happens and how banks come up with it, how people are going to be charged for e-transactions.

Teen Internet Card has same features as we had already covered in UBL Wiz Card i.e. it can be used as ATM card, Cash can be deposited from any branch of UBL and above all it comes with Visa Logo, making it able to be used on internet for e-shoppping.

Salient feature of Teen Internet card over old wiz card is that,  you do not need to activate internet usage session which was must to be activated in old wiz card. Session used to cost Rs. 100 each time you activate it and its duration was 24 hours max, else you only get a calender date period after which it expires and you have to renew it by again paying 100 rupees.

This mess has been removed in Wiz Teen Internet Card.  You do not need to activate the session or to pay anything, it comes with pre-activated session. Just think about shopping and do it in a click.

Deposit, Withdrawl and Daily usage limits are as follows:

Registration procedure is same as for UBL Wiz – previously described in older post. You just need to have CNIC, fill up the form and get your card from selected branches in Karachi, Lahore, Islamabad, Faisalabad and Multan.

This committee will be composed of members, both from SBP and PTA, aiming to provide a framework for Third Party Solution Provider (TPSP) system. Additions to existing regulatory and a new setup of Mobile Banking would be the soul purpose of this committee.

The statement said,

We hope that this understanding will encourage innovative technological products which would ultimately enhance outreach of financial services in the country.

Mobile has become need of hour as in present era, as fruits of it cannot be denied where we can easily get our jobs done from a simple payment to utility bills payment, fund transfers, and remittances etc.

This Committee, which will comprise members from both the SBP and the PTA, will introduce unified regulatory framework for Third Party Solution Provider (TPSP) system. It will propose modification in existing regulatory/legal framework, if needed. Further, an M-banking Stakeholders Group (including mobile network operators, financial institutions, Ministry of Information Technology, PTA, SBP, TPSP/integrators) is also proposed to be set up, which would address technical standards, product & services, licensing regime and relevant operational issues etc.

“We hope that this understanding will encourage innovative technological products which would ultimately enhance outreach of financial services in the country,” the Joint Statement said. It may be mentioned here that mobile banking services are increasingly being provided by financial institutions in collaboration with mobile operators around the world to increase outreach, generate additional revenues, reduce costs and increase customer satisfaction.

Mobile banking offers a variety of financial/non- financial functions, including merchant payments, utilities bills payments, fund transfers, and remittances etc. The synergy likely to be created by the financial institutions, mobile operators and other partners will bear very promising results.

In Pakistan, such innovative services have been possible through introduction of Branchless Banking Regulations (BBRs) by State Bank. Subsequent to BBRs, the Ministry of Information Technology issued Policy Directives to PTA to prepare a framework on technical implementation of BBRs. By assessing the potential of partnership between banks and mobile operators, it is felt that there is a need for a joint platform of both regulators (SBP and PTA) for achieving the very purpose of these regulations.

via ProPakistani

Access Channels & Partners: Following Mobile Banking access channel(s) are offered to Ufone Subscribers

WAP (Partner Bank: Habib Bank Limited, Backend Solution Providers: TPS & Fundamo)

UPayments Salient Features:

UPayments WAP Portal offers the following services to its valuable subscribers having bank account(s) with partner bank(s):-

• All banked Customers can easily access UPayments WAP Portal anywhere any time (even on International Roaming worldwide) through their GPRS enabled handsets by visiting http://upayments.net
• UPayments is a secured WAP portal backed by industry’s most reliable 128 bits SSL certificate issued by Verisign, Inc in name of UPayments.net and ownership to PTML. (The SSL certificate details can be viewed from any handset by checking Page Options/Info or Security Info).
• UPayments provide additional security to the subscribers by offering 2 different PINs. First the WAP login PIN (or Ufone PIN) that is used to login to the WAP Portal whereas the second PIN is Bank’s T-PIN (Telephonic PIN) required for every Financial or Non-Financial Transaction ensuring maximum security yet with convenience.
• For every successful login and transactions done on UPayments WAP Portal, the subscriber will immediately be notified via SMS to his registered Ufone number.

After the secured Login subscribers can perform the following:-

Financial Transactions:-

• Ufone Prepaid ULoad (available denominations Rs. 250/-, Rs. 500/-, Rs. 1,000/- and Rs. 1,500/-)

• Ufone Postpaid Bill Inquiry (Total Payable Bill)

• Ufone Postpaid Bill Payment (Supporting partial or full payment minimum Rs. 500/- and Max. 5,000/- in multiples of Rs. 50/-)

• Utility Bill Inquiry (Supporting KESC, LESCO, SSGC & SNGPL)

• Utility Bill Status (Paid, Unpaid, Blocked)

• Utility Payment (Direct payment from respective bank account in real time)

Non-Financial Transactions:-

• Bank Account Balance Inquiry
• Bank Account Mini Statement
• Ufone PIN Change (Online WAP Login PIN Change facility. In case if the subscriber forget his Ufone PIN and/or T-PIN than he will have to call Bank’s Call Center at 021-111-111-425)

UPayments Subscription:

Prior to enjoying the facilities provided by UPayments, Ufone subscribers having bank account with partner banks will have to go through the registration process as per the designated UPayments Access Channels. The registration process also requires subscribers to go through KYC (Know Your Customer) verification process at their respective bank as per SBP Bank-led Mobile Banking Model; this ensures that only valid and authenticated subscribers can get registration and perform the financial transactions. For details please call 333 from your Ufone Mobile.

Terms and Conditions:

• UPayments is offered to all Ufone subscribers (both prepaid and postpaid) having bank accounts with partner banks.
• Ufone subscribers must have GPRS activated on their handsets to access to UPayments.
• Upon browsing through the UPayments WAP portal, standard GPRS charges (or UrEDGE Data Packages) will be applicable.
• Every SMS request to short code 808 will be charged for Rs. 0.25/-+Tax.
• For every utility bill payment, the subscriber will be charged Rs. 5/-+Tax from his Ufone Prepaid Airtime.
• In case of PIN(s) forget, both Ufone PIN and T-PIN can be regenerated by calling HBL Helpline at 021-111-111-425.
• Similarly if the subscriber wishes to change his current used Ufone number to a new Ufone number he will have to visit his HBL branch and fill the requisite form of change contacts and will have to call HBL helpline to get the new number registered for UPayments.
• Ufone is not liable for any wrong, delayed or non-payment of Utility Bills. For all issues and concerns regarding Utility Bill Payments subscriber is advised to contact respective bank/utility company for settlement.

Customers are not able to pay bills initially, or transfer money, for this you are to go to your nearst Authorized Franchise.

Following are the details of the service:

Bill Payment

• You go to nearest Bill Payment Channel.
• You have the Original Bill and 15 Rs as Service Charges.
• You handover the Bill to Shopkeeper/Telenor Staff.
• Shopkeeper Pays the bill through his Mobile and recieves the Bill Amount and Charges.
• You recieve a Confirmation Message on your Mobile (If Provided).
• Shopkeeper stamps one half of the bill and gives it to you.

Money Transfer

• You go to nearest Money Transfer Channel.
• You have your original CNIC and its Copy and CNIC# of person whom you are sending money.
• You give your CNIC and Reciever’s CNIC# and Mobile nos. of both parties to Retailer/Staff, he enters provided information in mobile string.
• Retailer handovers his mobile to you to enter a 5 digit Passcode which you will later communicate to your Money Receiver.
• The transaction is done from your side, and now you get a confiramtion SMS on your Mobile.
• There is a Transaction ID in SMS. You have to tell this Trx ID and Passcode to your Money Receiver for him to successfully retrieve money.
• Receiver now goes to nearest channel with original CNIC, its copy, Trx ID and Passcode.
• Enters it into Retailer’s Mobile and gets cash.