LAHORE - As the mobile financial services community of Pakistan approaches the 5th International Mobile Commerce Conference, pioneers MCB Bank, Fundamo, a Visa company, and Access Group have urged industry practitioners to look beyond technology to ensure the Pakistani market continues to lead the world, says a Press release. Pakistan’s strong regulatory support for branchless banking, as well as the disparity between the number of bank accounts (22%) and mobile phone users (65%) in the country created a ‘perfect storm’ for the delivery of mobile financial services.
With more than 800,000 mobile money subscribers (State Bank of Pakistan, 2012), Pakistan offers a global case study for success.
However, for the mobile financial services market in Pakistan to remain successful, industry practitioners need to meet new business challenges that threaten to stifle market growth.
The key business challenge for practitioners in Pakistan is how to drive consumer activation.
To date many service providers, while registering a large number of users, have struggled to sustain on-going use.