Pakistanis will open bank account through mobile phones by 2019

Open Bank Accounts on Mobile Phones

Pakistan Telecommunications Authority (PTA) is working towards enabling people to open up their bank accounts using mobile phones by 2019.

It was revealed by Dr. Syed Ismail Shah, Chairman PTA on Tuesday who while talking to Associated Press of Pakistan (APP) said that Pakistan has been playing a leading role with regards to financial inclusion and digital technology.

Dr. Shah said that around 40 million people are using mobiles in Pakistan while 87 percent people have access to the mobile facility. He added that geographically 57pc of people have access to the mobile phones in Pakistan. He said:

“Two and a half years ago there was no broadband service in Pakistan, but now the country has access to 3G, 4G technologies.”

He said that the government has withdrawn 19.5pc tax on mobile data and has achieved the verification of 71pc od SIMs through biometric systems.

He further revealed how mobile phone technology is bringing the revolution in Pakistan with a special mobile application. Dr. Shah said that it had been prepared for the special persons with the cooperation of Telenor. He added that with this mobile application, these people would be able to use internet service like ordinary citizens.

Dr. Syed Ismail Shah is hopeful that the problem of transportation would also be resolved through mobile applications. He also said that for women many such services have been introduced which can enable them to do official work at home.

The recently toothless PTA who now reports to Information Technology & Telecom Division has seen telecom revenue of Rs. 452.8 billion during the fiscal year (FY) 2015-16. Conventional banking practices are fading away as banking through mobile phones or branchless banking is gaining momentum. With the new banking dynamics, opening bank accounts with mobile phones is a welcoming idea.

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