SBP allows Foree to provide payment services

KARACHI: The State Bank of Pakistan (SBP) has granted permission to Foree to provide payment services in Pakistan. Foree is a mobile payment platform which enables users to pay anyone using QR Code, Mobile Number, CNIC Number, Email Address, Twitter handle, Facebook or Foree Address (a virtual payment address). It is a universal, low cost digital payment platform for businesses, enabling even the smallest merchant to start accepting digital payments in a cost effective manner without the need for any expensive POS machines.

The Founder and CEO of Foree, Saleem Ropani said, "Foree is on a mission is to make payments easy, interoperable and trusted to power economies by delivering Financial Inclusion and Social Economic Justice. Along with creating new avenues for jobs and formalization of the economy, through our technology we are enabling access to financial services with ease and trust. Foree aims to become the backbone of Pakistan's digital society."

With 150 million cellular subscribers, 70 million 3G/4G/broadband users, and 60 million bank accounts; Foree aims to steer the digital transformation in Pakistan in terms of payments and digital services.

Mehdi Hussain, Co-founder and Chief Technology Officer of Foree, said, "Keeping our customers and users safe and delighted is our number one priority at Foree. We dedicate extensive resources to ensure all the user data and information is secure. We've built a company culture that reinforces trust at every opportunity."