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CARDS & PAYMENTS | Cesar Tordesillas, India

Pakistan Post offers electronic money order service

Pakistan Post has launched an Electronic Money Order service at seventeen centres in ten districts of the country.

The service has been initiated with an investment of Rs500 million in a centralised software system.

Out of total funds, Pakistan Post has provided Rs100 million to vendor Telconet, who has installed the system and will supervise it, an official said.

Although the service has been initially launched at seventeen locations in 10 different cities, the investment  on the system is difficult to justify, the official added. Service charges are comparatively low, as compared to the Easypaisa and UBL Omni services, but the network offered by Pakistan Post cannot beat that offered by its competitors, he maintained.

For a transfer of Rs10,000, Pakistan Post’s charges are Rs160 less than charges received by competitors, the official added. The whole service, he claimed, is based on the very innocent assumption that the customer considers only service charges, while ignoring the time factor and load on the system. “It seems that no cost-benefit analysis has been carried out, and that the lower prices will only translate into lost revenue.

The service should have been competitive in all respects: including service charges, availability of service, available timings and the quality of service,” he added.

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