Whether it’s consumer goods, e-commerce, or the financial sector, the globe is experiencing fast digitalization. NBP Funds has recently pioneered the first-ever transaction using WhatsApp in their official WhatsApp Self Service Portal, recognizing the app’s convenience and significant usage.
In the last decade, Pakistan’s digital landscape has grown at a similar rate. Pakistan has over 170 million mobile connections and over 60 million internet users, according to statistics, despite a population of over 220 million people. This digitalization adaptation may also be seen in Pakistan’s banking industry.
According to a survey released by the Data portal in January 2021, over 70 million persons conducted digitally enabled payment transactions between 2020 and 2021, representing a nearly 27% increase over the previous year.
The use of mobile communication programs such as WhatsApp has also increased. For the past few years, WhatsApp has remained Pakistan’s most popular and downloaded app.
It instructs users on how to make digital investments and allows them to retrieve their money promptly and securely using WhatsApp with a few simple steps. It is approved by SECP and is the first of its type in Pakistan.
Users no longer have to fill out time-consuming manual forms or remember login passwords. By simply initiating a discussion with NBP Funds’ official WhatsApp number: 021 111 111 632, they can take care of their little urgent concerns like as cash needs or balance checks.
NBP Funds WhatsApp Self Service: A Closer Look
The WhatsApp self-service was established earlier this year to help investors get information about their funds swiftly and securely.
In addition to transactions, the WhatsApp self-service platform offers the following services:
- Account Balance and Statement
- Online Investment and E-Transactions
- Products and Services
- Fund Manager Report
- Account Services and Certificates
- Complain or Feedback
- Talk to an Agent
Performing Transactions
Any investor can use WhatsApp to either invest (in funds) or redeem (cash out their assets).
Withdrawing Money into Bank Account
Official WhatsApp is funded by the National Bank of Pakistan (NBP). Investors can use self-service to make investments and begin their wealth-building journey. This can be done by a bank transfer or by creating a bill.
Investing via bank transfer provides a unique IBAN, which can later be used to make a transfer of any amount using any mobile banking application.
The Bill Generation technique, on the other hand, requires the user to first specify how much they want to invest before receiving an investment voucher number. They can then pay against the investment-generated voucher using any banking application.
To read our blog “NBP team up with UnionPay to launch Huawei Pay in Pakistan,” click here.