Electronic Money: Disrupting the Payment Landscape in Pakistan

The commercial landscape for payments is shifting. FinTech players are bringing a new wave of disruption with fast-paced innovation and evolution that internationally, has seen them capturing lion’s share from traditional banks. These challengers are non-banking entities leveraging technology to deliver innovative, user-friendly, cost-effective payment services in the form of digital wallets, pre-paid cards, and contactless payment instruments including wearables etc.
They not only promote cashless payments but also enhance the overall customer experience be it shopping or payment at a diner, and are increasingly looking to upgrade: from starting as a payment services firm, to becoming an e-money firm and finally becoming authorized to be a bank.
The Electronic Money Association (EMA) in Europe has seen the take-up of e-money grow at a rate of approx. 20% per year. In FY18 consumers in Pakistan carried out 3.4 million online transactions worth Rs. 18.7 billion on 1,094 locally registered e-Commerce Merchants, with a significant YoY growth of 183% in volume and 98% in value, compared to the previous year.
Traditionally, payment instruments in Pakistan are issued by banks with negligible participation of non-banking entities. However, there is no dearth in indigenous talent that is rapidly experimenting with new technology to come up with products, similar to global standards of innovation. In order to encourage competition, promote scalability and improve customer experience, SBP has issued Regulations for Electronic Money Institutions (EMIs) with the objective to guide the establishment and operations of EMIs in Pakistan whilst promoting financial inclusion, digital payments, and consumer protection.
This seminar is aimed to apprise the audience of the regulatory perspectives, best practices, trends and success stories of payment digitization, eco-system development, implications on commercial banking, seamless CX, risk management considerations, through a fusion of global and regional insights.

Who Should Attend
From the leadership to business development managers, product innovators, and alliance designers at the following:

• FinTechs and aggregators
• Commercial banks
• Microfinance banks
• Telcos
• Utility companies
• E-commerce retailers
• FMCGs
• Software houses
• Incubators
• Academia
• Courier and logistics companies etc.