Daily Times

FINCA, one of the leading micro-finance banks in Pakistan, has announced their partnership with 1Link to launch its first chip based debit card for their branchless banking (SimSim) customers on 31st of August 2018. This is the industry’s first EMV enabled PayPak debit card which ensures authenticated chip-card transactions.

With this launch, SimSim intends to expand its digital payment services whereby customers can withdraw money from any ATM booth or make seamless payments at any retailer across the country. These transactions are secured by a 4 digit PIN code which the customer is required to punch in after the retailer swipes it on the POS machine. SimSim thereby has shielded its customers from potential fraud and scam by taking this initiative. This card can be ordered through the app and delivered to the requisite person in 7 working days.

Commenting on the venture, Mudassir Aqil, CEO of FINCA said,” We are excited to partner with 1Link and launch Pakistan’s first EMV enabled PayPak Debit card that will help us expand electronic payments to our customers and help us progress towards our vision of maximizing financial inclusion. SimSim debit card will provide a convenient and secure payment experience for people. The nationwide acceptability and enhanced security features that come with this PayPak card will help drive more acceptance and usage amongst the general audience.”

Adding on, Mr. Najeeb Agrawalla, CEO of 1LINK commented, “We welcome FINCA’s initiative for the issuance of PayPak. This will help them broaden their product portfolio but also contribute towards the enhancement of the digital financial landscape of the country. This is definitely a positive step towards bringing the homegrown payment system to Pakistani market while facilitating national goals.”

SimSim by FINCA, Pakistan’s leading mobile financial solution, has been facilitating its customers by providing cutting edge, innovative services every now and then. This is another step in the long-term vision of freeing the country from cash by introducing such new avenues. SimSim aspires to transform conventional methods of payment by providing breakthrough digital banking solutions and has always strived to benefit its customers to the max.

Customers can apply for the card by logging into their mobile app after downloading from the Google Play Store or iOS App Store. Alternatively, customers can also order their cards via SimSim’s 24/7 helpline.

Published in Daily Times, September 7^th 2018.