Pakistani Bank Teams With Alipay for Blockchain Remittances

Pakistan-based Telenor Microfinance Bank, a subsidiary of Norwegian telecoms multinational Telenor Group, has launched cross-border payments using blockchain technology from payments firm Alipay.

Claiming it as Pakistan’s first blockchain-based international remittance service, the bank announced Tuesday that the effort is a joint effort between Telenor Group’s Malaysian fintech subsidiary Valyou and its Pakistani mobile banking arm Easypaisa, offering real-time money transfers between the two nations.

Blockchain will “significantly boost the speed and efficiency” of payments, the bank said in a statement, adding that the money transfers will be “highly secure and transparent.”

Continue Reading on CoinDesk

Like this: Like Loading...