SCO and VRG Signed an Agreement to Initiate Digital Payment Services and Mobile Wallet. Special Communications Organization (SCO), one of the leading digital communications service provider of Azad Jammu & Kashmir (AJ&K) and Gilgit Baltistan (GB) and Virtual Remittance Gateway (VRG) Pakistan signed an agreement for launching digital payment products & services and Mobile Wallet for S-Paisa customers in AJ&K and GB. The signing ceremony was held at HQ SCO and was attended by SCO and VRG representatives.
By signing this contract SCO has achieved yet another milestone towards the provision of AMA (Asaan Mobile Account) scheme that is a main focus of SBP’s National Financial Inclusion Strategy (NFIS). This will also facilitate the poor and marginalized sections of the society towards adopting digital payments and would be able to connect to any Bank by using just a feature phone even with 2G coverage.
Signet to this, it will also enable SCO to launch innovative products & services not only for its niche but for a broader market segment thereby contributing effectively and efficiently towards the economic development of the country.
(a) About, S-Paisa
Special Communications Organization (SCO), in collaboration with JS Bank launched its financial services by the name of “S-Paisa” in 2019. This is the first ever GSMA mobile money certified services in the Azad Jammu and Kashmir (AJ&K) and Gilgit Baltitan (GB). Initially, launched as a money transfer service, S-Paisa empowers underserved masses by bringing convenience and freedom to their lives.
With the largest footprint in the AJ&K and GB, S-paisa is turning into a complete lifestyle platform which enables people across Pakistan & Northern areas to truly adopt the digital way of life.
(b) About, Virtual Remittance Gateway (Pvt) Ltd
Virtual Remittance Gateway (VRG) is a newly established company working under the aegis of PATHFINDER Financial Technology Group (PFTG), which is a subsidiary of the PATHFINDER Group. The PATHFINDER Group (Pakistan) is the largest security solution provider of Pakistan. This is the ONLY security services group in South Asia, to have been rated as by a rating agency (PACRA) in October 2014.
Virtual Remittance Gateway also called VRG is a mobile financial services platform for digital banking & financial inclusion.