lecture

1. ONLINE BANKING
Group Member
Ali Asad , Rayan , Ali Raza, Mesam, Hamza, Mubeen

2. Online Banking
Online banking, also known as internet banking, is a service provided by banks that allows customers to manage
their accounts, conduct financial transactions, and access banking services over the internet.
It eliminates the need to visit physical bank branches.
Accesibility 247 hour.
Examples:
• 1. UBL Mobile Banking
• 2. HBL Mobile Banking
• 3. MCB Mobile Banking
• 4. EasyPaisa
• 5. JazzCash

3. Useful Features Of Online Banking
1. Fund Transfers: Quick and seamless transfers between accounts.
2. Bill Payments: Schedule and pay utility bills directly from the platform.
3. Mobile Check Deposit: Deposit checks using a smartphone camera.
4. Account Monitoring: Real-time access to account balances and transactions.
5. Secure Transactions: Multi-factor authentication for enhanced security.
6. Alerts and Notifications: Updates on account activities and balances.

4. FUTURE Of Online Banking
1. AI Integration: Personalized financial advice through AI-driven chatbots.
2. Blockchain Technology: Enhanced transaction security and transparency.
3. Biometric Authentication: Use of fingerprints or facial recognition for login.
4. Open Banking: Seamless integration with third-party financial services.
5. Eco-Friendly Banking: Paperless transactions and green banking initiatives.
6. Quantum Computing: Faster and more secure transaction processing.

5. Advantage Disadvantage
Advantages:
• 1. Convenience: Access accounts
24/7 from anywhere.
• 2. Time-saving: Quick transactions
and bill payments.
• 3. Easy account management: View
statements, track transactions, and
manage accounts
Disadvantages:
• 1. Security risks: Potential risks of
hacking, phishing, and data breaches.
• 2. Technical issues: Possible technical
problems or system downtime.
• 3. Dependence on internet: Requires
stable internet connection.

6. Digital Payment Platforms /
Mobile Wallet
Mobile wallets, also known as digital payment platforms, are electronic
systems that allow users to store, transfer, and manage money through their
smartphones or other digital devices.
Example:
1. JazzCash
2. Easypaisa
3. Zong PayMax
4. 1LINK and MNET
5. Keenu Wallet

7. Jazz Cash
Definition:
• JazzCash is a mobile wallet and payment service in Pakistan that allows users
to perform financial transactions, pay bills, and transfer money using their
mobile phones.
• JazzCash is owned and operated by Jazz (Mobilink Microfinance Bank
Limited), a subsidiary of Jazz (Mobilink).
• JazzCash was launched in 2012 (as MobiCash, rebranded as JazzCash).

8. Advantage Disadvantage
• Advantages:
• 1. Convenience: Easy transactions,
bill payments, and money transfers.
• 2. Accessibility: Available to a wide
range of users with mobile phones.
• 3. Financial inclusion: Promotes
digital financial services
• Disadvantages:
• 1. Transaction fees: Fees for certain
transactions.
• 2. Security risks: Potential risks of
fraud or data breaches.
• 3. Technical issues: Possible
technical problems or downtime

9. Importance:
JazzCash promotes digital payments, financial inclusion, and convenience in Pakistan.
How to use JazzCash:

11. Easypaisa
Definition:
• EasyPaisa is a mobile financial service in Pakistan that enables users to
perform financial transactions, pay bills, and transfer money using their
mobile phones.
• Owner: Telenor Pakistan
• Launched: 2009
• Importance: EasyPaisa promotes digital payments, financial inclusion, and
convenience in Pakistan

12. Advantages Disadvantages
Advantages:
• 1. Convenience: Easy transactions and
bill payments.
• 2. Accessibility: Available to a wide
range of users.
• 3. Financial inclusion: Promotes digital
financial services.
• Disadvantages:
• 1. Transaction fees: Fees for certain
transactions.
• 2. Security risks: Potential risks of
fraud or data breaches.
• 3. Technical issues: Possible
technical problems

15. 1 Link Banking
Definition:
1Link is a Pakistani interbank network that facilitates financial
transactions between different banks and payment systems.
• Owned by: 1Link is owned and operated by a consortium of banks in
Pakistan.
• CEO: Najeeb Agrawalla
• Located: 1LINK's headquarters is located at Suite 211 – 212, Karachi

16. Operating area
PakistanMembers37
ATMs14,000+
Founded1999
Websitehttps://1link.net.pk/
History:
Year 1999: ABN AMRO and Askari Bank connected their ATM
network.
Year 2002: SBP circular for the mandatory connectivity of either
of the two switches (1LINK or MNET).
Year 2003: 1LINK formed with a consortium of eleven founder
banks.
Year 2004: SBP instructed 1LINK and MNET to interconnect
with each other.
Year 2005: 1LINK partnership with Visa International
Year 2006: 1LINK launched Inter Bank Funds Transfer Service
(IBFT)
Year 2007: 1LINK launched Utility Bill Payment Service
(UBPS)1LINK was converted to a Private Limited Company
under section 49 of Companies Act 2017 on July 5, 2018.

17. Advantages
• 1. Convenience: Enables
transactions between banks.
• 2. Security: Secure transactions with
authentication.
• 3. Interoperability: Facilitates
transactions between different banks
Disadvantages
• 1. Transaction fees: Possible fees
for transactions.
• 2. Technical issues: Potential
technical problems.
Importance:
1Link promotes financial inclusion, convenience, and security in Pakistan's banking
system.

18. Features:
1. Interbank transactions:
Enables transactions between
different banks.
2. 2. ATM transactions:
Facilitates cash withdrawals
and deposits.
3. 3. POS transactions: Enables
point-of-sale transactions.
4. 4. Secure transactions:
Authentication and security
measures.
5. 5. Interoperability: Facilitates
transactions between
different banks and payment
systems
Banks linked are:
Allied Bank Limited
Alfalah Limited
Bank Of Khyber
Bank Of Punjab
Bank Islami Pakistan
Limited
Faysal Bank Limited
Habib Bank Limited
Habib bank Metropolitan
United Bank Limited

19. Keenu Wallet
Definition: Keenu Wallet is a Pakistani digital wallet and payment service that
allows users to make electronic payments, transfer funds, and pay bills.
Developed by: Wensol Pvt. Ltd.
Purpose: Enables cashless transactions, promotes financial inclusion, and
supports SMEs (Small and Medium Enterprises).
CEO and CO-Founder: Saad Niazi .
Launched by: Pakistani Fin Tech Company 2013.

20. ✅ Uses of Keenu Wallet
1. Mobile Payments: Pay at partner retail outlets using QR code scanning. Use NFC for tap-to-
pay (if supported).
2. Bill Payments: Pay utility bills (electricity, gas, water).Pay for mobile top-ups and internet
services.
3. Fund Transfers: Send and receive money from other Keenu users. Transfer to bank accounts
(limited to supported banks).
4. Online Shopping: Use Keenu Wallet as a payment method on e-commerce websites that
accept it.
5. Restaurant & Retail Discounts Enjoy: cashback and discounts at Keenu-affiliated
merchants.
6. Security & Tracking: Secure payments through PIN and biometric authentication.
Transaction history available in the app for tracking expenses.
7. Integration with Keenu: Net Connect Businesses can integrate for POS (Point of Sale)
payments

21. ❌ Reasons for Disuse:
1. Limited Merchant Network: Only accepted at
specific outlets; not as widely usable as JazzCash or
Easypaisa.
2. Limited Awareness: Not as well-known or marketed
compared to competitors, so user trust and adoption
are lower.
3. User Experience Issues: Some users report app bugs
or slow customer service.
4. Bank Transfer Limitations: May not support all
banks or have lower transaction limits.
5. Fewer Value-Added Services: Compared to other
wallets, it lacks features like insurance, ticket booking, or
savings products.
6. Cash-In Options: Fewer options for adding funds
(e.g., limited agent network or bank integrations).

23. Zong Pay Max
• Zong Pay Max is a mobile payment services by zong telecom, Aimed at providing
digital financial services, Particularly to zong subscriber.
• Owned by: The owner of Zong Paymax is Electronic Commerce Company
Limited (ECCL), which is a 100% owned subsidiary of China Mobile Pakistan
(CMPak). CMPak is also known as Zong 4G.
• The CEO of ECCL is Syed Naveed Akhtar.
• Launched by: Zong PayMax, in Pakistan in early January 2023.(testing in 30
December 2022)
• Located: Headquarter Islamabad.

24. Key Features:
Peer-to-peer money transfer: Send money to friends and family using their phone numbers or email addresses.
Bill payments: Pay utility bills, taxes, and other bills online.
Mobile load: Recharge your mobile phone or others with ease.
Online payment gateway: Make online payments securely.
Retail payments: Pay at retail stores using PayMax.
Nano loans: Apply for small loans through PayMax.
Handset financing: Finance your new handset through PayMax.
Payments: Make international transactions with ease.
Insurance: Access insurance services through PayMax.

25. Benefits:-
Convenience: Perform transactions
anywhere, anytime.
Security: Advanced security features,
including AI-enabled facial recognition,
protect your transactions.
Financial inclusion: PayMax aims to
bring the unbanked population into the
formal financial system.
Availability:
PayMax is available for download on
Google Play Store, and users can register
by providing simple KYC information. It
operates under the Electronic Money
Institution (EMI) license from the State
Bank of Pakistan.¹ ² ³
Registration:
1. Download the PayMax app from Google Play Store.
2. Register with your CNIC (Computerized National Identity
Card) and mobile number.
3. Verify your account through OTP (One-Time Password).