Govt committed to creating secure, efficient digital payment ecosystem

ISLAMABAD - Care­taker Federal Minister for Information Technol­ogy and Telecommuni­cation Dr Umar Saif has said that the government is committed to creating a secure and efficient dig­ital payment ecosystem. “Huawei’s contribution to Pakistan’s ICT infra­structure is a promising step towards a digitally connected future,” he said while talking with a high-level delegation led by Ethan Sun, CEO of Huawei said a news release. The meeting dis­cussed the importance of enhancing the digital economy of Pakistan. Dr. Umar Saif further said that the combination of ICT infrastructure and a robust digital financial ecosystem indeed of­fers significant benefits like reducing transac­tion costs, enhancing security, and promoting financial inclusion. Key stakeholders, including banks, microfinance in­stitutions, fintechs, and telecom companies, are integral to this progress, he added. “Technology, as exemplified by Huawei’s global efforts in mobile money and fintech so­lutions, plays a crucial role in advancing finan­cial access and creating new opportunities”, Saif added. Vice President Huawei Fintech Raven­scroft’s emphasis on reg­ulatory support for in­novation is essential for fostering a thriving digi­tal financial landscape, as demonstrated by success stories in Kenya and Ethi­opia. The Huawei team was comprised of senior representatives and sec­tor experts including Ethan Sun CEO of Hua­wei Pakistan, Ian Raven­scroft, VP of Huawei Fin­tech, Ahmed Bilal Masud, Director of Subsidiary Board and Deputy CEO, Yu Shaoning, Director of Public Affairs and Direc­tor Media and Communi­cations Dure Najaf Zaidi.

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