Habib Bank Limited and Summit Bank launch UPayments, a unique mobile banking service. Upayment is an initiative taken by Ufone and TPS, leaning on the mobile banking technology. The service has been housed within Ufone on a variety of platforms. The interested bank just has to integrate their system to this hub enabling all the mobile services to be taken care of.
With this launch, the banks customers can do their account enquiries, pay bills, do mobile top-ups and perform funds transfers using their head sets. The service can be used by the banks customers on any make and kind of cell phone.
TPS has a solid track record of bringing many innovations in the history of cards and payments industry. Availing the opportunities arising from the rapid mobile phone penetration, TPS has been progressively working on the development of innovative mobile payments solutions and building industry alliances to launch several branchless banking initiatives.
IRIS is the core technology behind UPayments. This allows connectivity across various technical interfaces to the banks and is connected to the USSD gateway of the telcos. The service has been initially launched on USSD gateway. USSD is the most widely used service for broad based handsets. With the launch of UPayments, customers can avail banking services while roaming anywhere in the world with Ufone’s vast international roaming network.
Among other initiatives planned for near future on this platform, the foremost is to offer intra-bank and inter-bank funds transfer, person to person payments, domestic remittances and many more services, allowing customers to use mobile channel for a wide range of banking and payment services.
