Riaz Riazuddin, Deputy Governor of the State Bank of Pakistan (SBP) on Thursday has asked the commercial banks to deploy more ATM machines nation-wide, as currently available network of 9,000 machines were not enough to facilitate the growing population in future.
Speaking at the 13th banking conference and exhibition organized by Total Communications and 1Link at a local hotel, he said that density of ATMs is low in Pakistan and we need to increase it in future. Riazuddin said "State Bank in collaboration with stakeholders has been striving to strengthen the payment delivery channels through automation and digitalisation."
The alternate payment delivery channels like e-banking and branchless banking have emerged as supporting pillars of SBP's vision for financial inclusions. "Creating digitally inclusive financial system will ensure reaching un-served and underserved population," said the deputy governor.
He said the recently issued regulations related to payment system operators and payment service providers has paved the way for new entrances pertaining to electronic payment gateway, payment scheme, clearing house, ATM switch, point of sales gateway, e-commerce gateway and so on.
Faisal Ejaz Khan, Chief Executive Officer at 1Link, said they would soon launch a mobile app-POS (point of sale) which would enable debit cardholders to make payments through smart phones, which would work like debit machines. "POS app would help swapping debit cards through smart phones...we are just waiting for approval from regulators {SBP}" he said, adding over seven million debit cards in Pakistan would automatically become POS cards.
He said 1Link would also launch "Direct Debit" app in the next three months. This would enable banks to directly debit payments from bank accounts for accountholders utility bills, their monthly instalments for cars and houses, school and university fees, and etc. The services would be activated on the request of accountholders. Faiq Sadiq, Head Payment Services at Habib Bank Limited, said his bank has deployed 5,000 POS terminals nation-wide.
He said his bank has come at number one position in deploying ATM machines in the country from number four three-four years ago. He said innovation, technological advancement and disruption is the way forward in the financial sector. He said NADRA database and 1Link have made possible to have biometric ATMS in the country.
Paulo Gomes, President, PMEA Region, Wincor Nixdorf-Portugal, stressed upon the need to win trust of customers through providing them best services in this technologically advancing world. Imran Qureshi, CEO, Access Group, said collaboration between banks and technology firms would help reaching financial sector to un-served and underserved population.
Dr Mirza Ikhtiar Baig, Chairman, FPCCI Standing Committee for Banking, said banks should workout special products for businessmen, traders and industrial sectors. The one-day conference also includes two panel discussions; (1) OMNI Channel Strategies-Challenges and Responses, and (2) Braving Security Challenges on ATMs. Besides, various renowned speakers from world across also addressed the august gathering.-PR