Chi­nese firms dis­cuss in­vest­ment in IoT so­lu­tions in Pak­istan

Gulf Times Business - - BUSINESS -

Chi­nese tech com­pa­nies are tak­ing in­creas­ing in­ter­est in the un­der­de­vel­oped in­for­ma­tion tech­nol­ogy sec­tor of Pak­istan as they are about to launch fi­nan­cial, trans­porta­tion, and In­ter­net-ofThings (IoT) so­lu­tions in the coun­try to take first-mover ad­van­tage, sources said yes­ter­day.

“At least two Chi­nese com­pa­nies are at var­i­ous lev­els of dis­cus­sion with the govern­ment and con­tact­ing lo­cal po­ten­tial part­ners, and soon in­vest­ment will start pour­ing in the sec­tor,” an in­dus­try of­fi­cial said, re­quest­ing anonymity.

Hangzhou-based Ju­more Hold­ings Group, a large con­glom­er­ate com­bin­ing sup­ply chain ser­vice, fi­nan­cial ser­vice and e-com­merce, is will­ing to en­ter Pak­istan’s mar­ket with a fi­nan­cial so­lu­tion plat­form to help com­pa­nies col­lect cap­i­tal from their clients.

“Such a plat­form would fa­cil­i­tate two coun­tries’ com­pa­nies work­ing to­gether on a large num­ber of projects in var­i­ous sec­tors,” the of­fi­cial added.

Pak­istan has no on­line pay­ment gate­way so far.

Avanza Group and Premier Sys­tems signed an agree­ment in Au­gust this year to for­mally establish Avanza Premier Pay­ment Ser­vices, the coun­try’s first do­mes­tic on­line pay­ment gate­way, which would spur in­no­va­tion in the do­mes­tic mar­ket by en­cour­ag­ing the com­mu­nity to pay on­line and make dig­i­tal pay- ments eas­ier and widely avail­able for bank­ing cus­tomers.

Ear­lier this year, Ant Fi­nan­cial Ser­vices Group, an af­fil­i­ate of Chi­nese e-com­merce gi­ant Alibaba, agreed to ac­quire 45% stake worth around Rs20bn in a sub­sidiary of Nor­we­gian telco Te­lenor to broaden ac­cess to fi­nan­cial ser­vices through dig­i­tal pay­ment so­lu­tions.

Ecom­merce play­ers see the en­try of a global lead­ing on­line and mo­bile pay­ment plat­form as a good omen for the mar­ket where 90% of on­line or­ders of Rs9.8bn were still ful­filled us­ing cash-on­de­liv­ery in the past fis­cal year.

Not­with­stand­ing, e-com­merce growth record is con­sid­er­able.

Con­sumers carried out 0.8mn of e-com­merce trans­ac­tions worth Rs4.8bn in the first quar­ter of 2018, up 100.6% in vol­ume and 50.5% in value over the pre­vi­ous year.

Bei­jing-based Megvii Tech­nol­ogy is also seek­ing en­try into Pak­istani mar­ket to de­velop apps and other soft­ware for trans­porta­tion de­part­ments.

One of its tech­nolo­gies could recog­nise ve­hi­cles’ num­ber plates.

Megvii Tech­nol­ogy is an in­dus­trial In­ter­net of Things so­lu­tion provider.

Megvii Tech­nol­ogy plat­form is be­ing used by many pop­u­lar brands like Ali­pay, mo­bile photo edit­ing app provider Meitu, ride­hail­ing ser­vice Didi Chux­ing, com­puter maker Len­ovo Group, smart­phone sup­plier Xiaomi, China Mer­chants Bank and China Citic Bank.

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