Tameer Microfinance Bank
Name of project: Tameer Microfinance Bank
Project partner: Tameer Microfinance Bank and Telenor Pakistan
Country: Pakistan
Coverage: Developing an m-banking transaction channel
Date began: February 2008
Technology used: Mobile/POS channels with agents
Services: Serve rural and urban areas in Pakistan with cell phones and agent-based financial service delivery channels
Clients: Targeting 550,000 new poor and unserved people |
About the project
Tameer Microfinance Bank plans to serve rural and urban areas in Pakistan with cell phones and multiple agent-based financial service delivery channels. It is targeting 550,000 new poor and unserved customers.
Tameer will develop a commission-based sales force to complement the branchless banking agent network.
Instead of delivering the m-banking application over-the-air, which has technical and cost related challenges, the service will use USSD, a standard for transmitting information over GSM networks. This will make it possible to reach any client with the service instantly. In the meantime, new SIM cards being introduced in the market will come with the application already uploaded. Magnetic stripe cards also will be available with SIM cards.
Account opening will be automated with an electronic link direct from each POS or cell phone to Pakistan’s national ID database which has 55 million computerized IDs.
Status of project
Telenor Pakistan and Tameer are working actively to launch the service. CGAP and the partners recently concluded a three-day workshop to review key areas of implementation.
For more information please write to us at technology@cgap.org.
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