Economic Digitalization Thread

[Sainthood 2.0]

I remember creating a couple of different threads on it in the previous forum. So, instead of multiple threads, let's condense it into a single thread dedicated to economic digitalization

 

[Sainthood 2.0]

from previous threads

Die, cash, die!

The Pakistani middle class is past its scepticism of electronic money. How did we get here, and what comes next?

profit.pakistantoday.com.pk

The govt wants your telco to finance your next smartphone if you can’t afford it. But how?

Ministry to share smartphone financing policy with stakeholders next week By Shahzad Paracha & Ghulam Abbas ISLAMABAD: The Ministry of Information Technology and Telecommunication has finally prepared the draft policy for smartphone financing. It is going to share the policy with stakeholders...

pdf.defence.pk

Will retailers accept revamped PoS machines? Chikoo and Bank Alfalah seem to think so

The startup has partnered with Bank Alfalah to digitise merchants; it might change the market in more ways than one

profit.pakistantoday.com.pk

 

[Sainthood 2.0]

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[RescueRanger]

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POS is still a work in progress in Pakistan, sure it has seen uptick in Karachi, Lahore and Islamabad but the barriers that remain are as follows:

• Infrastructure
• resistance to change among consumers and end users who still insist on relying on good old paper Quaid-E-Azam.

 

[Olympus81]

https://en.m.wikipedia.org/wiki/Raast#:~:text=History,developed with World Bank assistance.

 

[Sainthood 2.0]

POS is still a work in progress in Pakistan, sure it has seen uptick in Karachi, Lahore and Islamabad but the barriers that remain are as follows:

• Infrastructure
• resistance to change among consumers and end users who still insist on relying on good old paper Quaid-E-Azam.

You need - cheap Internet and cheap smartphones slash financing options for that

The govt wants your telco to finance your next smartphone if you can’t afford it. But how?

Ministry to share smartphone financing policy with stakeholders next week

profit.pakistantoday.com.pk

 

[RescueRanger]

You need - cheap Internet and cheap smartphones slash financing options for that

The govt wants your telco to finance your next smartphone if you can’t afford it. But how?

Ministry to share smartphone financing policy with stakeholders next week

profit.pakistantoday.com.pk

Yes and the present internet infrastructure is in the pan in Pakistan, sure you could offer a deal to retailers for a cheapo data package just for the purposes of using the POS on a Data only sim like they do with EasyPaisa etc, but even if you crossed that hurdle, so many people I know personally who are educated, well off and the kind of people who would transition to plastic, trust in paper.

So how will you target the masses with this tech? It will take time, a lot of time but I am sure the future generations will benefit from this groundwork. I remember when this was the height of technology:

 

[Sainthood 2.0]

‘Shared e-KYC’ introduced for banks, as PBA and SBP move towards more open banking

‘Shared e-KYC’ introduced for banks, as PBA and SBP move towards more open banking

The SBP has advised banks to join a shared e-KYC platform, which will use blockchain technology to store and share customers’ identity information across the banking industry

profit.pakistantoday.com.pk