After launching Pakistan’s first Islamic calendar on Sunday, Federal Science and Technology Minister Fawad Chaudhry announced on Monday that he wants to implement a mobile phone payment system in the country.
The minister took to Twitter on Monday morning, fresh off his successful launch of a controversial Islamic calendar that has been seen as a challenge to religious clerics, particularly the Ruet-e-Hilal Committee. He said that his next big challenge is replacing debit and credit cards with a mobile phone payment system.
For technology to progress, we need payments to become easier, he said, adding that God willing, in the next few months all payments, from bus fares to buying cars, will be made using mobile phones.
Mobile payments are just that – payments made from your mobile phone. They use mobile wallets, which store your debit and credit card information so you can pay for your goods and services digitally. They are generally considered safer alternatives to credit or debit card use.
Mobile payments are especially popular in neighbouring China, which has a $12.77 trillion mobile payment market, according to Medium.