Islamabad, Nov 19: E-Processing Systems Pvt. Ltd. (EPS) has achieved a major breakthrough by obtaining a commercial license from the State Bank of Pakistan (SBP) for its digital platform, OneZapp. As an approved Electronic Money Institute (EMI), this initiative aims to tackle financial exclusion and advance digital payment services across the country.
Addressing Financial Challenges with OneZapp
A significant portion of Pakistan’s population, particularly in rural and underserved areas, lacks access to formal financial services. These individuals often rely on cash-based transactions that are inefficient, risky, and costly, limiting their economic participation.
OneZapp: Transforming Accessibility
OneZapp is specifically designed to bridge the gap in financial access by offering simple and affordable digital payment services. Through wallet accounts for individuals, agents, and merchants, the platform facilitates secure transactions via mobile wallets, bank transfers, and peer-to-peer payments.
This approach empowers users to access the digital economy, minimizing dependence on cash and fostering inclusion.
Expanding Access Through Agents
At the core of OneZapp’s strategy is building a strong agent network to extend services to underserved regions. This network ensures that people in rural and remote areas can access OneZapp’s digital tools.
By bringing financial services closer to these communities, the agents play a vital role in integrating more people into the formal financial system.
Future Growth and Innovative Features
OneZapp is set to expand its services, introducing several new features to enhance its digital ecosystem:
- Payment Cards: Launching debit and prepaid cards for versatile transaction options.
- Micro-Insurance: Offering affordable insurance plans tailored to underserved populations.
- Merchant Payment Solutions: Providing tools to streamline business transactions.
- Financial Education: Equipping users with the knowledge to manage finances and adopt digital payment methods effectively.
These advancements, backed by in-house expertise and strategic partnerships, will strengthen OneZapp’s ability to meet diverse user needs and drive Pakistan’s transition to a robust digital payment landscape.
Leadership Perspective
EPS CEO Syed Muhammad Ammar Yasin expressed his enthusiasm, saying, “Receiving SBP’s approval is a significant milestone in our journey toward financial inclusion. With OneZapp, we aim to go beyond digital payments by empowering millions to thrive in the digital economy.”
Arshad Mughal, CMA Country Account Manager, added, “CMA’s goal of modernizing global payments aligns perfectly with Euronet’s vision. Together, we will enhance Pakistan’s digital payment infrastructure, ensuring wider access to financial services.”
Commitment to Inclusive Growth
OneZapp’s EMI license underscores EPS’s dedication to creating a sustainable and inclusive financial ecosystem. By leveraging innovative technology and fostering strategic collaborations, OneZapp is poised to revolutionize how financial services are delivered, making them more accessible, secure, and efficient for all.
