Mobile Financial Services (MFS) of Visa to start operation in 2014

Visa's global payment technology provider, has decided to move in the next year to launch its own Financial Services (MFS) in Pakistan. The product uses technology and operational VisaNet's "interoperability" mode, allowing users to through their mobile phones to send and receive payments.

Visa's country manager in Pakistan and Afghanistan, Kamil Khan informed the media that the company is working with telecom operators and banks, the product will be launched early next year, or by the end of 2014. As a single mobile point of sale machines (MPOS) priced at about $ 350 in rural areas for deployment process requires a huge investment. Some people say that with the telecom operators and banks visa

Visas covering more than 200 countries worldwide, its massive infrastructure management 24,000 transactions per second. In March 2013 the end of the fiscal year, turnover of more than 65 trillion U.S. dollars the visa, making it the world's largest retail electronic payments network.

VisaNet, a wholly owned subsidiary of the Company, Fundamo MFS is expected to launch services in Pakistan, State Bank of Pakistan has approved the project.

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