Telenor Group, a subsidiary of Pakistan, a multinational telecommunications company in Norway, with Telenor Microfinance Bank blockchain brought a cross-border payment solution based.
Pakistan's Telenor bank, in partnership with the Chinese payment company Alipay, became the first institution to provide a distributed notebook technology (DLT) -funded remittance service in the Islamic Republic. As stated in the press release of the announcement, the international payment solution is part of the collaboration with Easypaisa (Pakistan's leading mobile banking service provider) and Valyou (a Malaysian-based subsidiary of the Telenor Group).
Alipay's service, developed using blockchain technology ler It was reported that Pakistanis living in Malaysia were able to send money to their homes instantly and safely through Telenor's remittance service provider Valyou. Ay
Or This puts Pakistan on the side of very few countries in the world that have launched an international remit using blockchain technology. At around $ 20 billion a year, it is important because of the international referral, the total macroeconomic stability and the positive spread perspective of improving the lives of millions of families. Yıl
Bajwa added that ğ domestic transfers las accounted for more than 6% of Pakistan's gross domestic product (GDP). Bajwa said that in 2017-2018 (FY), the country was equal to yıllık 50% of the trade deficit açı, açı 85% of the total export value) and more than one-third of imports.
To transfer payments, as described in the press release blockchain technology Pakistan It will significantly increase the speed and efficiency of sending money from Malaysia to Pakistan kullanıl.
Ve Very Safe and Transparent eler Platform for Sending Payments
DLT-based currency transactions on the newly launched remittance platform will be T very safe and transparent Yeni. In addition, the giz stored, shared, or uploaded information korumak to the pay network is ”encrypted ip with the tool to encrypt the advanced protocols [used by Alipay] to protect users' privacy. "
President and CEO of the Telenor Microfinance Bank (Pakistan), Shahid Mustafa said:
”The international remittance service summarizes the shared vision of the Telenor Group and Ant Financial (the developer of online payment platform Alipay) in strengthening communities by bringing in comprehensive financial services to the world.“
In Spoken in the National Agenda of the Country “
A graduate of the MBA program at Lahore University of Management, Mustafa said:
'It is the production and use of new technologies to transform the financial services area in Pakistan, which is the top priority in the country's national agenda. “
On the other hand, Ant Financial, the 'subsidiary değ of the China-based Alibaba Group, and Ali has the highest value in the world fintechEric Jing, the CEO of the company ($ 150 billion), said:
“The new remittance service is one example of how emerging technologies can help countries achieve digital and financial engagement objectives. We're excited to be part of Pakistan's financial engagement efforts, and we're making new breakthroughs and starting to implement them in order to be more people in more places. '
Source: Cryptoglob to
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