In order to facilitate the National Bank of Pakistan (NBP) account holders to transfer funds from anywhere, JazzCash and the NBP have partnered to launch ‘Pay to CNIC’, the service will allow fund transfer from anywhere as long as a valid CNIC card is provided. The funds remitted through this integration can be collected from JazzCash’s agents present nationwide.
This service is to make transferring funds digitally more convenient and safe from the banked to the un-banked masses. The transfer is possible through the NBP Digital App, a Mobile App for NBP account holders that is available on smartphones.
For users without a smartphone, JazzCash has facilitated NBP branches across Pakistan to conduct Pay–to-CNIC transactions on behalf of NBP Account Holders through a Web-Portal Interface.
Aniqa Afzal Sandhu, Chief Digital and Financial Services Officer – Jazz speaking about the partnership, commented:
“As we move towards the digital future, JazzCash is leading the way with integrated partnerships and cutting edge products and services that are designed to facilitate the masses and build safe, sustainable bridges between the unbanked and banked population of Pakistan.”
This service is to surely benefit people especially the large percentage of NBP account holders as they are usually employed in the government sector, and are based away from home. Therefore, the facility of transferring funds to their family and/or any other individual who is un-banked is vital for them.
According to the press release, the receiver will be notified of the transaction through an SMS and will be able to collect the funds from any nearby JazzCash agent through a BVS Verification. The service has a monthly receiving limit up to Rs50, 000 per individual, and Pay-to-CNIC aims to enhance the access to NBP Account Holders to remit funds to unbanked individuals.
The Pay-to-CNIC is currently functional at NBP Branches through the Web-Portal Interface, and the service will be active soon on NBP Digital App in a few weeks time. JazzCash previously has also collaborated with Bank Alfalah for a similar service, the idea of such service is to forge partnerships in order to bridge the prevalent divide between banked and unbanked segment.