LAHORE – FINCA Microfinance Bank has signed a Memorandum of Understanding (MoU) with The City School for the payment of school fees through mobile phones to make the process easy for parents.
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This collaboration introduces an innovative system of payment for The City School parents. By using SimSim, a free “mobile wallet” as a digital payment method, parents will be able to make hassle-free fee transactions from anywhere.
By creating a mobile account on the SimSim app, parents will reduce costs, boosting financial inclusion and digitisation of our economy through FINCA.
“Payments through SimSim can be made from anywhere in Pakistan with just a single click”, said a press release issued here on Wednesday.
Muhammad Mudassar Aqil, CEO of FINCA Microfinance bank, said, “We are really excited about our collaboration with The City School, leading to expanding the world of digital mobile payment methods and facilitating parents with easy, cost effective, and quick processing of school fee submission through smart phone.”
Chief Financial Officer, The City School, Mr Kamran Haider said: “The City School is proud to provide yet another service to make the lives of our parents more convenient”.
“We are confident that the agreement with FINCA will offer ease of access to digital financial channels for our parents nationwide”, he added.
All one has to do is simply download the app and set up a “wallet”, ensuring a smooth transfer of payments.
FINCA Microfinance Bank Limited is part of the FINCA Impact Finance Network, a group of 21 microfinance and financial institutions that provides socially responsible financial services and enables low-income entrepreneurs and small business owners to invest in the future.