Mobilink, a subsidiary of Egypt-based Orascom Telecom Holding, has launched mobile financial services in Pakistan, in association with Citibank under an arrangement endorsed by the State Bank of Pakistan.
Mobilink and Citibank will utilize Mobilink’s infrastructure to extend the reach of financial services. It has reported the mobile users of Mobilink will be able to open branchless bank accounts through a registration process via authorized agents across the country.
The service is expected to allow users to maintain their accounts through their phones and make secure peer to peer money transfers to any Mobilink number simply via SMS.
Orascom aid that Mobilink intends to extend this partnership with Citibank further for its subscribers to avail and repay loans, purchase goods and services, pay bills, buy airtime and other services using their cell phones.
