Originally published at: https://www.mawazna.com/blog/finca-microfinance-bank-launching-paypak-debit-card/
FINCA Microfinance Bank is Pakistan’s rapidly growing microfinance instituion providing micro credit facilities, deposit and payment solutions to the communities in Pakistan. FINCA Microfinance Bank has recently siged up with 1 Link Limited to bring PayPak (inter-bank payment network) Debit Cards and digitizing its product portfolio. For the sake of exploiting this scheme FINCA will issue PayPak debit cards that are to be promoted all over the country with its branch (over120 branches) network in 94 cities.
Effectiveness of PayPak Debit Card:PayPak Debit Cards will allos Finca's customers to make transaction at any of 50,000 POS machines across the country. The offering of PayPak Debit Card will help Finca and its customers by:
Exploiting Pakistan’s financial inclusion
Strengthening FINCA’s product portfolio
Enrichment of the digital financial landscape of the country
Increased flexibility of making payments across the country
The adoption of home grown payment system is facilitating national objectives of Pakistani market. SimSim customers will also be eligible to exploit its services. This agreement is a major contribution for providing base to the National Financial Inclusion Strategy 2020 with financial digitalization in Pakistan.