To provide seamless digital payment solutions to the people of Pakistan, China Mobile, the parent company of Zong 4G, has promoted its first solution ‘PayMax’ in the country. The promotion of PayMax aims to empower the locals in the unbanked sector of Pakistan with a secure and unique financial solution.
PayMax, a Digital Wallet Account, was promoted during a special ceremony held at the headquarters of Zong 4G, also known as China Mobile Pakistan (CMPAK).
CMPAK and Electronic Commerce Company Limited (ECCL), a 100% owned subsidiary of CMPAK ventured into the market of Digital Financial Services after getting the Electronic Money Institution (EMI) License in Pakistan from the State Bank of Pakistan last March. After acquiring the license, CMPAK and ECCL went on to launch their commercial digital payments solution under the brand name PayMax.
“Our mission is to provide a trustworthy digital payments system through a collaborative ecosystem for cashless payments,” CEO CMPAK said. With over 60% of the adult population unbanked, PayMax aims at providing seamless digital payment solutions to them.
CEO ECCL, Syed Naveed Akhtar, said, “Our target market and focus in the first phase are approximately 34 million Zong 4G tech-savvy super data users followed by the rest of the potential digital payment customer base in the country.”
PayMax can become one of the leading digital payment solutions providers in the Digital Financial Services Industry by utilizing Zong 4G’s 45 million subscribers base and an agent network of more than 43,000 BVS retailers all across Pakistan.