<article>China Mobile, which owns the Pakistani telecom player Zong 4G, showcased its first digital payments solution ‘PayMax,’ during an event at Zong&#8217;s headquarters in Islamabad on Thursday.</article>

China Mobile, which owns the Pakistani telecom player Zong 4G, showcased its first digital payments solution ‘PayMax,’ during an event at Zong&#8217;s headquarters in Islamabad on Thursday.
China Mobile Pakistan (CMPAK) and Electronic Commerce Company Limited (ECCL), a 100% subsidiary of CMPAK ventured into digital financial services after getting the Electronic Money Institution (EMI) licence from the State Bank of Pakistan (SBP) in March 2022.
After incorporating in Pakistan in November 2019, ECCL was granted in-principle approval in March 2020 and was allowed full-scale commercial operations on March 22, 2022.
Speaking at the launch, CEO CMPAK &amp; Zong4G, said, “Our mission is to provide a trustworthy digital payments system through a collaborative ecosystem for cashless payments.”
Adding on, CEO of ECCL, Syed Naveed Akhtar, said, “Our target market and focus in the first phase are approximately 34 million Zong 4G data users followed by the rest of the potential digital payment customer base in the country.”
“Zong customers will get discounts on GSM-exclusive bundles will be offered to them from time to time,” said PayMax in a response to DealStreetAsia.
On top of basic use cases such as mobile load, money transfer, utility payments, and online bill payments; PayMax plans to provide services like insurance, lending, e-ticketing and ATM Cards for local and international payments by directly integrating with service providers.
“Moreover, we plan to offer our channel services to other financial services players in the market through the interoperability option,” PayMax added.
PayMax also plans on introducing its own debit cards with international and local schemes which will enable it to earn revenue on issuance and usage. In addition, PayMax plans on adding a retail channel as a service to other financial institutes.

China Mobile owns the Pakistani telecom player Zong 4G.

China Mobile launches PayMax, a digital payments solution, in Pakistan

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China Mobile launches PayMax, a digital payments solution, in Pakistan

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