- PaySend to work with JS Bank to deliver new wallet services for freelancers in the country, with ATM and in-branch withdrawal methods both on offer
- Pakistan is one of the world’s quickest-growing markets for freelancers, with revenues on the up in recent months
- “This new solution will help to empower freelancers across Pakistan by allowing them to manage their money from their smartphone”, said PaySend CEO
A well-known UK cross border payments service has announced it will work alongside a Pakistani bank to deliver better payments services for freelance workers.
PaySend will work with JS Bank to deliver the new initiative inside of Pakistan.
As part of the package, freelancers will be able to access what is being described as a “Freelance Wallet”.
The service will carry JS Bank’s branding, and will allow online money transfers to be made using a mobile phone number.
However, users of the service will also have to go to a physical branch of JCash to have their identity verified using biometric tools.
There will be various options on the withdrawal side, including branches of the JS Bank chain or via ATM cards.
The country is the fourth quickest-growing market in the world for freelancers.
Figures from the firm Payoneer show that in between August 2018 and the same month of 2019 there was a rise in freelance revenues of 47% there.
However, the arrival of the service from PaySend and JS Bank is likely to fill a market gap given that firms like Apple Pay, which is popular in many parts of the world, has still not taken hold here.
In a statement, Ronald Miller – who serves as the chief executive officer of PaySend – outlined the benefits that the partnership is expected to bring.
“The JS Bank Freelance Wallet is powered by Paysend and brings a new level of security and speed when it comes to getting paid as a freelancer”, he said.
“Doing freelance work can be stressful without the right tools to ensure seamless administration.”
“This new solution will help to empower freelancers across Pakistan by allowing them to manage their money from their smartphone”, he added.
On JS Bank’s part, the firm’s country head for branchless banking and digital implementation – Noman Azhar – said that the new project was “game changing”.
“In line with the State Bank’s strategy, we are working aggressively on increasing the value proposition in the international remittance space”, Azhar said.
“JS Bank has provided freelancers with a practical digital platform to the to ease the fund receipt process without any extra cost. This is a game changing initiative and cements our position as a market leader.”
According to press reports, PaySend works with over 1.4m customers around the world.
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