Tagged: formal economy

Pakistani Fintech SadaPay Aims to Bring Modern Financial Services to Country, where 87% of 218 Million Residents are Formally Unbanked

August 24, 2020 @ 11:50 pm By Omar Faridi |

Pakistan still has a very large informal economy, meaning many (or most) transactions are still settled with cash. The majority of the nation’s residents do not have access to a bank account or modern financial services. However, local Fintech and digital wallet solution providers such… Read More

Read more in: Fintech, Asia | Tagged cash, coronavirus, covid-19, digital commerce, digital payments, digital transformation, digital wallets, e-commerce, financial inclusion, fintech adoption, formal economy, islamabad, online payments, pakistan, sadapay

Achieving Financial Inclusion Is Still a Significant Challenge in Pakistan, According to Fintech Sector Executive, but New Products being Developed

August 21, 2020 @ 4:54 pm By Omar Faridi |

Salman Ali, the chief operating officer at Virtual Remittance Gateway, notes that Pakistan has a population of more than 218 million (one of the highest in the world). He points out that 60% of the nation’s population are adults, however, only 23% of residents have… Read More

Read more in: Fintech, Asia | Tagged digital accounts, digital banking, digital payments, digital transactions, financial inclusion, formal economy, online payments, pakistan