Pilot operations are going to be launched as Electronic Money Institute (EMI) by the E-Processing Systems Pvt. Ltd with the approval of the State Bank of Pakistan. This new technology of EMI services will be launched under the brand name “ONEZAPP”.
This pilot approval has been granted to connect the informal economy with digital financial services by serving as a bridge between them and ensuring the working of micro retailers to swerve the unbanked population of the country.
The “ONEZAPP” app will be provided with enormous innovative features. In the pilot stage, its uses and operations will be limited, allowing access to only a restricted population, particularly the agents and merchants. It will allow them to receive payments directly from their clients and perform other digital financial services such as utility bill payments and many more.
The “ONEZAPP” app aims to innovate digital banking and facilitate the people. It will incorporate much more features including debit cards, liquidity solutions, donations, and educational payments to reach the level of the commercial stage.
Due to its innovative promises, the “ONEZAPP” app is expected to play a major significant role in elevating financial inclusion in Pakistan.