Financeupdates
No Result
View All Result
Friday, July 1, 2022
  • Home
  • Pakistan
  • Business
  • Sports
  • SCI-TECH
  • Others
    • Trending
    • Mobile
    • Auto
    • Amazing
Financeupdates
  • Home
  • Pakistan
  • Business
  • Sports
  • SCI-TECH
  • Others
    • Trending
    • Mobile
    • Auto
    • Amazing
No Result
View All Result
Financeupdates
No Result
View All Result
ADVERTISEMENT

SBP gives the Chinese EMI a license to do business

The EMI will provide commercial services under the brand name "PayMax"

by zerfeshan arshad
June 17, 2022
in business
SBP gives the Chinese EMI a license to do business

SBP gives the Chinese EMI a license to do business

Share on FacebookShare on Twitter

China Mobile Pakistan Electronic Ecommerce Company (CMPECC), an Electronic Money Institution (EMI), has been given a commercial licence by the State Bank of Pakistan (SBP). CMPECC has just begun operations and services in its specified areas in Pakistan.

China Mobile Pakistan (CMPAK) owns and runs Zong 4G, and CMPAK Electronic Commerce Company Limited (CMPAK ECCL) is a wholly-owned subsidiary of CMPAK.

The EMI will provide commercial services under the brand name “PayMax” as a result of this license, which will help CMPAK achieve its goal of digital and financial inclusion.

PayMax will be launched with the goal of revolutionizing the digital financial landscape, and it is well-positioned to carve out a place in the Pakistani mobile payments industry by providing exceptional value to its consumers and filling in holes in the market. Customers will be able to pay their utility bills, mobile top-ups, transfer money, deposit and withdraw cash, and buy e-tickets, among other things, through their mobile phones through PayMax’s Digital Wallet Accounts.

According to the SBP, in Q3-FY22, a new EMI, M/s CMPECC, was awarded a commercial license, which would help to further develop the digital payment landscape, while the current two EMIs, M/s Finja, and M/s Nayapay, have also continued to strengthen their positions.

As more of these businesses join the market, the goal of promoting financial inclusion will become more tangible. There are now 11 EMIs investigating the Pakistani market. Four EMIs have begun commercial operations, two have received pilot permission for their services, and five operators have received in-principle approval from the regulator.

For the latest Business & Tech news, follow on Facebook, and Google News. For the latest news on business & technology

zerfeshan arshad

zerfeshan arshad

Related Posts

Gold rate in Pakistan today 2022
business

Gold rate in Pakistan today 2022- 1st July 2022

by zerfeshan arshad
July 1, 2022
0

KARACHI: The gold rate in Pakistan today (July 1, 2022) on the local market altered, with the precious metal closing...

USD TO PKR: US Dollar rate in Pakistan today on, 1st July 2022
business

USD TO PKR: US Dollar rate in Pakistan today on, 1st July 2022

by zerfeshan arshad
July 1, 2022
0

Karachi: The Interbank US dollar (USD) to Pakistani rupee (PKR) closing exchange rate is Rs 204.85 for July 1, 2022. The conversion of...

Petrol Price in Pakistan increases government by nearly Rs15 per litre

Petrol Price in Pakistan increases government by nearly Rs15 per litre

July 1, 2022
ARY Digital Network wins TV AND Digital Rights for FIFA World Cup 2022

ARY Digital Network wins TV AND Digital Rights for FIFA World Cup 2022

June 30, 2022
USD TO PKR: US Dollar rate in Pakistan today on, 1st July 2022

USD TO PKR: US Dollar rate in Pakistan today on, 30 June 2022

June 30, 2022
Gold rate in Pakistan today 2022

Gold rate in Pakistan today 2022- 30 June 2022

June 30, 2022
Next Post
Punjab Allots Rs. 1.5 Billion to Restart Chief Minister's Laptop Scheme

Punjab Allots Rs.1.5 Billion to Restart Chief Minister's Laptop Scheme

Nokia G11 Plus Price in Pakistan 2022 & Complete Specifications

Nokia G11 Plus Price in Pakistan 2022 & Complete Specifications

USD TO PKR: US Dollar rate in Pakistan today on, 1st July 2022

USD TO PKR: US Dollar rate in Pakistan today on,17th June 2022

Discussion about this post

ADVERTISEMENT
No Result
View All Result
ADVERTISEMENT

LATEST

Facebook will soon add Discord audio chat rooms in near future

Facebook will soon add Discord audio chat rooms in near future

June 29, 2022
Samsung Galaxy S22 Ultra Price in Pakistan

Samsung Galaxy S22 Ultra Price in Pakistan 2022 & Complete Specs

June 29, 2022

SECTIONS

  • Business
  • Tech
  • Sports
  • Trending
  • Lifestyle
  • World

Site Navigation

  • About Us
  • Contact Us
  • Privacy & Policy
  • Advertisement
  • Sitemap

Trending

  • Gold Rate in Pakistan
  • US Dollar rate

© 2021 Financeupdates All Rights Reserved

No Result
View All Result
  • Home
  • Pakistan
  • Business
  • Sports
  • SCI-TECH
  • Others
    • Trending
    • Mobile
    • Auto
    • Amazing

© 2021 Financeupdates All Rights Reserved