Monday, December 11, 2023

Pakistani entrepreneur launches the payment app ‘Foree’ to improve Middle Eastern remittances

Foree, a digital payments app launched in Pakistan this May, will help boost the global cashless economy, create tens of thousands of jobs in Pakistan and make it easier for workers abroad, especially in the Middle East.

The Pakistani government has recently launched a number of digital payment initiatives to promote financial inclusion and government revenue in a country where only a small proportion of economic transactions are recorded.

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Several private-sector digital money transfer systems that do not require a bank account are now available in Pakistan, eg. B. Jazzcash from Jazz and Easypaisa from Telenor Pakistan.

However, the Foree app is unique: it allows users to combine all their bank accounts and cards in a single app, and perform internal transactions seamlessly with marginal fees.

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The app will also help boost e-commerce in the country and allow people to shop online with international brands and companies through real-time payments.

Foree’s management estimates that payment decisions will help create at least 100,000 jobs and point of sale (POS) in Pakistan alone over the next two years, not only in cities but also in remote areas of the country as a society Don’t rely solely on money cash to make purchases.

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