Mobile payment system is going to replace the Debit card system as announced by Federal Minister of Information and Technology “Fawad Chaudhry”. Previously, he has launched Pakistan’s first Islamic calendar this month and now he is planning to initiate a new payment system.
Mobile Payment System
Recently he reached to twitter to express his ideas. Fawad Chaudhry said that the Islamic calendar launch was successful even being controversial in religious perspective. It was a challenge because of the involvement of Ruet-e-Hilal Committee. However, it has been accomplished and his next motive is to replace the old Debit cards and the Credit cards system with the new Mobile payment system in order to utilize the technological tools effectively.
قمری کیلنڈر کے بعد اگلا بڑا چیلنج کریڈٹ کارڈ اور ڈیبٹ کارڈز کو موبائل فون پیمنٹ سے replace کرنا ہے، ٹیکنالوجی کی ترقی کیلئے ادائیگیوں (payments) کا آسان ہونا لازمی ہے، انشااللہٰ چند مہینوں میں آپ کی تمام ادائیگیاں بس کے کرائے سے گاڑی خریدنے تک موبائل سے ہوں گی۔
— Ch Fawad Hussain (@fawadchaudhry) May 27, 2019
In his tweet, he said that we need technology advancement in our country and mobile payment is an easier way to handle payments. Moreover, he said that all the payments from bus fares to the buying of cars will happen through mobile phones in the next few months.
This announcement was made after Fawad Chaudhry launched a “Moonsighting website” along with the first “Pakistani Islamic Calendar”. This amazing website which is named “Moon Sighting Pakistan” comprises of not only an Islamic calendar of day to day for five years but also Georgian calendar. Moreover, it allows people to know about the correct position of the Moon.
The aim behind this mobile payment is that all the payments will be carried through your phones. A mobile wallet in your phone contains the information of your debit and credit cards through which you will be able to buy goods and services. This is a safe way in comparison to the debit and credit card system.
According to the sources, China is using this Mobile payment technology and holds a mobile payment market of $12.77 trillion.