It’s an early Saturday morning and most people in Karachi are catching up on much-needed rest.
Yet as is customary in a densely populated metropolis, enthusiasts from tech companies, IT, fin-tech, and banking are gathering at the PC Hotel for a 2-day conference; to listen and participate in what industry experts have to say about Pakistan’s future in technology and financial services.
The conference has been organized by Katalyst Labs where some of the best minds in Pakistan, comprising entrepreneurs, project specialists, and banking gurus plan to jointly debate the country’s outlook and what the digital landscape holds for aspiring e-commerce businesses.
The conference topics are promising: talks on how customer needs are evolving and what companies need to watch out for in a world where social media promises an ever-changing landscape.
Enter Fawad Abdul Kader, Paymob’s Country Manager in Pakistan who is part of a 5-person panel titled “Bank on it: The Future of Fintech”. The moderator asks him why the Egypt-based entity decided to start operations in Pakistan.
With quiet authority and assertiveness, Fawad replies, “Did you know that there is only 1 POS (point of sale) machine for every 2200 persons in Pakistan? And here lies the answer. Paymob started operations in Pakistan because we plan to resolve this gap by offering a suite of payment acceptance solutions for every demographic in this country.”
The panel is quiet for a few seconds, digesting the information they...
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