Mobilink Microfinance Bank Limited (MMBL), Pakistan’s largest digital bank, has formed an arrangement with Virtual Remittance Gateway (VRG), Pakistan’s only commercially licensed Third-Party Service Provider and a veteran mobile financial services platform for banking consumers (TPSP).
Non-smartphone consumers of MMBL will be able to use their bank accounts via Unstructured Supplementary Service Data (USSD) Channels as a result of this agreement. Customers commonly use USSD to purchase cellphone bundles and check their prepaid balance amounts.
VRG has commenced on enabling MMBL’s USSD channels, allowing MMBL clients to use banking services 24/7 on their phones that do not have 3G, 4G, WiFi, or Internet connections, thanks to its technical capabilities.
Non-smartphone users of MMBL will be able to check their bank balance, bank statement, transfer funds, pay utility bills, and recharge their mobile phone accounts without using data or the internet thanks to USSD Channels.
Ghazanfar Azzam, President & CEO of MMBL, expressed his thoughts on the relationship by saying,
“We are committed to expanding our financial services to a wider pool of customers by targeting the underserved segments of the society.
Over the years, MMBL has successfully been able to reach millions of customers across Pakistan through its wide array of innovative products and services specifically tailored to promote financial inclusion for all.
With VRG’s partnership, MMBL plans to revolutionize Pakistan’s banking sector by bridging the financial gap and eradicating all barriers to access digital financial services.”
Chief Finance & Digital Officer MMBL, Sardar Muhammad Abubakr shared his thoughts,
“MMBL is dedicated to uplift the unbanked and underserved segments, particularly SMEs and women-led businesses, by providing them access to financial services through its expansive digital financial ecosystem.
Through this partnership, we strive to accelerate further growth by merging USSD Channels with our tailored products and services that will not only enable individuals at a wider scale but will give them a chance to contribute positively to Pakistan’s digital financial ecosystem as well.”
Muhammad Salman Ali, CEO VRG stated, “Customer centricity is at the heart of banking and this collaboration is a significant step towards digital banking making its impact bigger on customer experience across business segments.
Providing Unified USSD service to access banking will not only enhance the customer experience but also augment MMBL’s digital footprint to reach customers who were previously out of the digital banking net.”
Mobilink Microfinance Bank is dedicated to being in the forefront of digital banking activities in the country. Financial inclusion is promoted by the bank’s provision of innovative, convenient, and accessible digital financial solutions to the general public.
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