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August 12, 2015

Mobicash launches near field communication

Business

 
August 12, 2015

KARACHI: Mobicash has become the first mobile financial services provider (MFS) to launch Near Field Communication (NFC) payments on vending machines for its mobile account users after signing an agreement with Batwa and Wavetec, a statement said on Tuesday.
Through this collaboration, Mobicash users will be able to purchase items from Wavetec’s NFC enabled vending machines which are to be installed at various places around the country, it said.
As a pilot, this facility will be available at the Mobilink premises for employees. After a successful trial period, the facility will be available to Mobicash Mobile Account holders. This first of its kind initiative is another step in Mobicash’s vision for a secure and reliable cashless ecosystem in the near future.
To launch the NFC payments mechanism, a signing ceremony was held in Islamabad, attended by Mobilink Mobile Financial services Director Aniqa Afzal Sandhu, Batwa Director Adnan Asdar, Batwa CEO Sajid Farooqi, Wavetec CEO Ahmed Fraz, and Vendi HOD Saim Ehtesham.
Aniqa Afzal Sandhu said, “NFC based payment solutions open up a unique opportunity to enable our 1.5 million strong Mobicash mobile account user family to use NFC technology to pay for day to day transactions. As a promoter of branchless banking in the country, with a vision to bridge the prevalent divide between the banked and unbanked population, we believe rapid growth of NFC based payment solutions is for the benefit of a cashless ecosystem.”

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