Tag Archives: FINCA

SimSim Aims A Holistic Approach to Digitize Payment Modes

SimSim Aims A Holistic Approach to Digitize Payment Modes


admin | category: Banking

SimSim Aims A Holistic Approach to Digitize Payment Modes . SimSim, Pakistan’s first leading free mobile wallet, is revolutionizing digital commerce growth in Pakistan. SimSimis adding two new services for its valuable users, the ‘Door-Step’cash-in service and a collaboration with TCS (courier service), introducing SimSim as a payment method for cash on delivery (COD). As a unique banking solution among all the digital wallet players in the market, SimSim is committed to providing innovative services for the ease of its clients.

The ‘Door-Step’ cash-in service by SimSim is a new feature,available on request for SimSim account holders based in Lahore. If users do not have cash in their SimSim wallets, they can conveniently avail this door-to-door service and request cash to be deposited in their mobile wallets, at their door step,without any charges for the pilot.The cash deposit limit available to the users of this unique cash service is from PKR 500 to PKR 5000. All one needs to enter is the amount and their address to request for this service.

Talking about this ground breaking mobile wallet application, Mr. Qasif Shahid, CEO & Co-Founder of SimSim Pakistan said, ”

SimSim is not simply a product or an app, rather it is a movement to free digital commerce in Pakistan…”

Another new and exciting development is the partnership of SimSim Pakistan and TCS that enables SimSim users based in Lahore to experience cashless COD services that can be paid through their mobile wallets. It is a very simple process whereby once the shipment has been received through TCS, the rider will display a QR code to the customer, who will open SimSim on his/her mobile phone and will select ‘Scan & Pay’ to confirm the amount, after which he/she will make the payment. Payments can be made with just a click and customers will also receive a one-time cash back of Rs.300 on an invoice of more than Rs.1000.

The cashless COD service is developed to overcome the issue of mobility as people had to have cash ready at all times to receive a shipment. For this they had to personally visit their banks/ATM’s to get cash. However, with this breakthrough collaboration, a digital funds transfer is possible between the retailer and customer bringing about a seamless digital payment revolution.

SimSim aims to transform conventional methods of payment by providing breakthrough digital banking solutions. This state-of-the-art and continuously improving application offers an array of services to its customers including free fund transfers, instant utility bill and mobile top up payments, exciting merchant discounts and many more. SimSim’s mission is to enable branchless banking via a digital wallet that is accessible 24/7.

About FINCA Microfinance Bank

FINCA Microfinance Bank Limited is part of the FINCA Impact Finance Network, a group of 20 microfinance and financial institutions that provides socially responsible financial services and enables low-income entrepreneurs and small business owners to invest in the future.

FINCA is also one of the fastest growing microfinance networks in Pakistan with 120+ branches in 108 cities across the country. Since its inception 10 years ago, FINCA Microfinance Bank has given over PKR 60 billion through 700,000+ small loans to micro enterprises, helping them grow their businesses, and creating thousands of new jobs. It also provides attractive deposit options and state of the art payment solutions with an unparalleled customer experience.

It also recently launched a first-of-its-kind mobile wallet, SimSim that can be opened and operated from one’s smart phone. Anyone can open an account remotely in just 1 minute. SimSim empowers users by providing a payment solution that not only allows zero cost transactions, but also enables one to create one’s own payment ecosystem. FINCA is the first microfinance bank in Pakistan to receive Smart Certification, recognizing its long-standing commitment to client protection. FINCA is a name you can trust.

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ACCA’ to Drive the Growth Trajectory of an Emerging Pakistan

ACCA’ to Drive the Growth Trajectory of an Emerging Pakistan


admin | category: Business

ACCA’ to Drive the Growth Trajectory of an Emerging Pakistan. ACCA members have committed themselves to achieving an average GDP of 7% as well as improving the global ranking of Pakistan to top 50 for the ease of doing business and global competitiveness Index.

ACCA’s Pakistan Leadership Conversation (PLC) 2018 was held in Lahore on March 27, 2018 and was the last of a series of conferences held previously in Islamabad and Karachi. The conversations were based on the theme ‘Collective Vision for an Emerging Pakistan’ with the main aim of formulating forward- thinking policy choices to drive economic growth and social development in Pakistan.

Bruno Olierhoek, President OCCI and CEO Nestle Pakistan Limited, DrAmjadSaqib, Founder Akhuwat Foundation, JahanzebBurana, CEO, PBIT, Hasnain Sheikh, Chairman and CEO, Inov8 Limited Pakistan, Hassan Daud Butt, Project Director/CPEC Coordinator, Ministry of Planning and Development, Monis Rahman, CEO, Rozee.pk, Omer Zaheer Meer, Senior Partner at MLCC and Tughral T Ali, Business Head: Branchless Banking, FINCA shared their perspectives for an Emerging Pakistan and key strategic interventions which their organizations are undertaking.It was unanimously agreed by the conversation leaders and the delegates that realizing this agenda means collaboration between the private and the public sector.

ACCA has drawn a roadmap with key deliverables essential to setting the country in motion towards achieving economic prosperity. One of the big ticket items that everyone is discussing these days is the Belt and Road initiative. ACCA is playing its part by leveraging its global reach with belt and road countries. ACCA is undertaking several researches to share the key focus areas. In recent past ACCA has launched two reports; one around the Chinese perspective and the other is purely focused on the opportunity for Pakistan under CPEC.

The other main drivers of change that can create an impact include exporting services and professional and technical expertise. The extent to which shared services and BPO will significantly change the nature of today’s organisation cannot be underestimated. ACCA has been the thought leader when it comes to the concept of encouraging companies to adopting shared services or outsourcing models and managing talent.

ACCA works in public interest and ensures that the businesses operate as a force for good and it can only do that if it operates to strong ethical and professional standards. ACCA has 200,000 members across the globe and these members work all over the world to build the profession and make society fairer and more transparent. The actionable agenda and the collective vision of the conversation leaders at PLC resonate with the entire ACCA fraternity.

Sajjeed Aslam, Head of ACCA Pakistan said,

“ACCA is known to be a strong champion of public value – acting in the public interest, promoting ethical businesses and growing economies. Sessions like these reflect ACCA’s commitment to knowledge sharing and capacity building.”

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