Online Payments Now the Trend – Is it the Future?
It is reported that three fintechs are geared to enter Pakistan’s phenomenally growing financial sector based on news from the State Bank of Pakistan.
Fonepay, Monet and TPL Rupya are the companies with their eyes set on the market according to State Bank. MasterPass and the other concerns are already in the process of setting up a proper market base with their social media and adverts spreading in a wide spectrum approach strategy.
These concerns are well set to capitalize on the already mentioned growing financial market and with both business-to-Consumer e-Commerce (e-B2C) and a step towards cashless society.
We need not explain the concept as it is very clear by its very own name. Wherever, whenever, however – you may not need paper plastic or metal currency in due time if it evolves like Chinese market where a major consumer segment already uses phones and crypto to buy products.
E-commerce has evolved dramatically over the past two years and taken a shape in the local market similar to that of any developed country, only a bit slower. Things are changing and trends are what one has to keep up with. As for now at least these three have entered the local market and many more contenders are yet to be seen as the road to financial growth both widens and makes its way inland.