MMBL, CASH1 join hands to boost financial inclusion in remote areas
ISLAMABAD: Mobilink Microfinance Bank Limited (MMBL) has taken another step towards expanding its reach across Pakistan by partnering with CASH1 – owned by Webdnaworks (Pvt.) Ltd. which is the pioneer of independent ATM deployment in Pakistan and is the first non-banking entity to get the State Bank’s license of Payment Service Operator (PSO) and Payment Service Provider (PSP) for the deployment of off-site ATMs under the brand CASH1.
As part of this joint initiative, CASH1 will be providing off-site ATM deployment services to MMBL, enabling the bank to broaden its outreach and enhance its service in far-flung areas where customers lack adequate access to basic facilities and infrastructure, thereby increasing access to financial services for those who have been traditionally unserved and underserved.
Sharing his thoughts at the signing ceremony, Ghazanfar Azzam, President and CEO, MMBL said, “We are excited about this partnership with CASH1, as it will enable us to extend our reach even further and provide greater convenience and accessibility to our customers. Deploying CASH1’s ATMs is critical to MMBL’s mission to improve financial inclusion in Pakistan and under this partnership, the bank strives to offer flexible banking services to previously underserved communities.”
On the occasion of signing ceremony, Qamar Abbas, Executive Director, Webdnaworks (Pvt.) Ltd. said, “We are delighted to roll out our ‘bank in the box’ business model that will go some way to digitize cash-out payment to the general public, not only in the major cities but also in the rural areas of Pakistan through this partnership with MMBL.”