PITB and JS Bank to Provide Smooth Payment Mechanism to Freelance Community: MOU signed

Punjab Information Technology Board (PITB) has signed an MoU with JS Bank to provide a secure and smooth payment mechanism to the freelance community

Punjab Information Technology Board (PITB) has signed an MoU with JS Bank to provide a secure and smooth payment mechanism to the freelance community

The MoU was signed by PITB DG e-Governance Sajid Latif and Najeeb Ahmad, Head of Special Asset Management at JS Bank on behalf of their respective organizations in a ceremony held at Arfa Software Technology Park (ASTP).

Pakistan is counted amongst the fourth largest freelance markets round the globe due to the growth of call centers, software houses, technological companies and content freelancers in large numbers.

However, the freelance sector has been faced with a challenge regarding the receipt of payments through options like the Paypal, which does not exist in Pakistan.

The other means of money transfer through wires takes a long time creating problems and hardship for the recipients.

Realizing the need of the market, JS Bank has introduced ‘Freelance Wallet’, a global network of payments that allows freelancers to receive payments from more than 40 countries directly on their cellphones.

Through the service, the funds can be transferred directly into the recipient’s mobile number along with SMS intimation.

After receiving the funds, the money could be withdrawn after a verification process from branchless banking agents, JS Bank branches or via ATM cards (for existing customers).

The transfer of funds through ‘Free Wallet’ guarantees safety and transparency.

Freelancers can open a paperless account in less than a minute against the mobile number. For the purpose, they need to visit the nearest JCash agent and provide biometric verification.

PITB Head of Freelancing Wing Chaudhry Ahmad Islam, JS Bank Product Manager-Digital Financial Services Khushnuma Jamal and focal person Mahnoor Ikram along with officials from State Bank of Pakistan were present at the event.

Speaking on the occasion, PITB DG eGov Sajid Latif stated, ‘PITB has successfully trained over 30,000 freelancers across Pakistan so far. We plan to train a minimum of 100,000 freelancers by the end of this year,” he added.

Najeeb Ahmad, Head of Special Asset Management – JS Bank stated, “Our partnership with PITB is another step in our efforts to drive entrepreneurship amongst the youth of Pakistan.This specially designed solution offers registered freelancers complete fee waiver on ATM withdrawals, specified international e-commerce payments Inter Bank Fund Transfer (IBFT) and account maintenance fee. In addition, as a special incentive Master Card Gold Debit card will be given at zero cost.”

The collaboration between the two will be an avenue to support freelancers through the provision of Freelancer Current Account/Home Remittance Current Account.

Source PITB