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10 November 2017

Mobilink's Mobicash Reports 500,000 monthly active accounts

Islamabad - Dec 11, 2015: Mobicash has crossed the 500,000 monthly active mobile accounts mark up from the 25,000 monthly active mobile accounts in April 2015. This 20 times increase in active users signifies the strength of the 2.5 million mobile accounts registered by Mobicash. The unprecedented growth over the past 8 months is owed to the company’s effective strategies put in place to register and educate customers on Mobile Accounts.

While congratulating his team at a ceremony held to mark this milestone, Jeffrey Hedberg, President & President Mobilink, said, “This is yet another milestone for our company, which showcases our resolve towards positively contributing to financial inclusion across the communities of Pakistan and is a clear demonstration of our Mobicash strategy in action. I appreciate the efforts of our team who continue to work innovatively to provide the best customer experience across the country, may it be in the shape of new services or by strengthening our retail network. As an entity, we not only believe in opening new avenues for our customers, but also in adding value by building a stronger relationship with them.”

Speaking on the milestone and the objectives being pursued by the MFS provider, Head of Mobile Financial Services - Mobilink, Aniqa Afzal Sandhu stated, “Mobile accounts are the future of financial services in Pakistan and Mobicash has played a vital role in its provision to the masses. Ourstrong 58,000 plus retailer networkassists with our aim to improve lives by ensuring subscribers living in localities with limited formal banking services utilize Mobicash to avail the variety of financial services it offers. This milestone is another step towards our objective of bridging the prevalent divide between the banked and unbanked populace of Pakistan.”

The pioneering product of Mobicash gives customers the option to maintain a branchless banking account with their Mobilink number that can be operated through a simple USSD menu. Cash can be deposited or withdrawn from any of the 58,000+Mobicash Agents spread across Pakistan. Mobicash Mobile Account allows users the option to transfer funds to other Mobicash Mobile Accounts, other Operator’s Mobile Accounts,other 1-Link/M-NET connected bank accounts or any person’s identity card, while also enabling customers to pay for a variety of services. Moreover, Mobicash has also launched its ATM Card, which allows users to withdraw funds from their Mobile Account via any ATM of a 1-Link or M-NET connected Bank.

About Mobicash:

Mobicash has more than 58,000 retail outlets across Pakistan. In the recent past Mobicash has also been engaged in biometric-based disbursements to the flood victims in Punjab. In addition, it also facilitates direct collection of donations across Pakistan. Mobicash offers both Over-the-Counter (OTC) and Mobile Account services for customers offering money transfer, payment of utility bills, corporate disbursements, mass payment collections, savings and insurance services.