Establish New Payment Institutions for:
• ATM Switch and ATM Networks with the brand name of CASH1
• Automated Clearing House
• Electronic Payment Gateway for e-commerce
• POS and Pay card Schemes
• WPL to Launch White Label ATMs across Pakistan, with the brand name of CASH1
• WPL to establish a payment gateway to process cross payments
• WPL to develop agnostic mobile wallet (m-wallet) in Pakistan
White Label ATMs
- WPL to install Independent ATM Network along with ATM Switch across the country; WLAs
- WPL shall charge transaction fee to the customers.
- WLAs will be equipped to process all types of debit/credit cards.
- To enhance the outreach, WPL intends to roll-out WLA network in Tier 1, Tier 2 and Tier 3 cities
- The services would range from Cash Withdrawal Facilities,Transfer of Funds, Mini Statements to Balance Inquiry and Utility Bills Payment.
- WPL intends to set up 600 White Label ATMs across the country in first 2 years.
Payment Processing Services
- WPL will provide mobile banking/digital wallets and prepaid card payment solutions
- Point of Sale (POS) terminal acquiring and management system shall be launched
- The payment gateway shall have its own E-Commerce transaction processing, routing, clearing and settlement like Cyber-source
- No dependency on VISA or MasterCard payment gateways.
- All the transactions shall be routed and settled through its own network.
- Convenient and secure payment option shall be introduced to the customers for the domestic online payments like VISA, MasterCard, COD, and EasyPay etc.
- Potential market is available for a payment gateway services in Pakistan as local banks or portals are using international gateways for the payment processing and settlement
- WPL’s payment gateway solution shall provide cost effective and secure channel to banks and merchants for the eCommerce transactions.
- Merchants can be brought on the platform by offering low MDR (Merchant Discount Rate)