Foree: Pakistan’s first ever online digital payment system revealed
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A digital payment solution for domestic and international payments is set to be launched in Pakistan in May this year.
Called ‘Foree’, the application allows users to aggregate all bank accounts and cards into a single application and perform seamless transactions at marginal cost. ------------------------------
hairman of Foree’s Board, Murtaza Hashwani, has claimed that Foree will be Pakistan’s first online payment system.
Hashwani noted that Foree is unique because users do not have to move money between different accounts using online banking and the service is unlike wallets, which only allow limited transaction facilities.
He said that Foree will facilitate overseas Pakistanis, especially in the Middle East, remit payments back home without the involvement of an agent or bank and at a minimum charge. ------------------------------
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It will boost the e-commerce industry in Pakistan and will allow people to shop online from international brands and companies through real-time payments.
Foree had been set up with seed investment and future expansion will involve global companies and venture capitalists invest in Pakistan, helping to create at least 100,000 jobs in the country within two years, said Hashwani.
*Via: Arab News link*
