In this issue:
DETERMINANTS OF AND DETRIMENTS TO FINANCIAL INCLUSION IN PAKISTAN
Access to financial services has been a subject of increasing policy debate in developing countries. Financial inclusion is important as it reduces poverty and inequality, allows poor people to smooth out their consumption and invest in their futures through education and health.
SBP SETS MERCHANT DISCOUNT RATE AT 1.5-2.5% FOR POINT OF SALE TRANSACTIONS
State Bank of Pakistan (SBP) has set the Merchant Discount Rate (MDR) for the transactions through Point of Sale (POS) within a range of 1.5% to 2.5% for retailers and service providers aimed at promoting the use of debit and credit cards throughout the country as part of the digitization of the financial system under National Payment System Strategy (NPSS).
VISA, MASTERCARD COULD BE THE NEXT $1TR COMPANIES
TECH and internet titans were the first to reach $1 trillion in stock market value, but the next US companies that could do so are better known for their plastic.
HERE’S WHY SO MANY FINTECH STARTUPS ARE LOANING TO SMALL BUSINESSES
Everyone wants to lend to small businesses, as the fintech boom continues to bring constituent players closer together in feature-terms. Thinking broadly, the rising focus on small-business lending amongst B2B fintech and finservices companies feels directionally similar to the rise of consumer-oriented fintech startups adding banking-like features last year.
ASKARI BANK SIGNS AGREEMENT WITH NIFT FOR DIGITAL FINANCIAL SERVICES
Askari Bank and NIFT have signed an agreement for digital commerce payments (mobile/electronic) through NIFT’s DFS platform under the brand name “NIFT ePay”. NIFT ePay’s primary focus is to execute interoperable and secure digital commerce payments using any bank account and wallet in Pakistan.
WOMEN IN FINANCIAL SERVICES ARE TACKLING AN UNDERSERVED MARKET: THEMSELVES
Financial services for women have historically been abysmal. Management consulting firm Oliver Wyman has called women its “single largest underserved group of customers.”
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