The National Bank of Pakistan (NBP) recently launched the first-ever WhatsApp transactions model, wherein a user can make digital investments and redeem his money instantly.
The Securities and Exchange Commission of Pakistan (SECP) approved the first-of-its-kind service.
A user is no longer required to skim through time-consuming manual forms, nor does he need to remember credentials. He can undertake urgent matters such as cash withdrawal or balance checks by chatting with NBP Funds’ WhatsApp number: 9221111111632.
The WhatsApp self-service has been launched to facilitate investors in accessing information regarding their funds in a quick and secure manner.
Using WhatsApp, an investor can also redeem (cash out investments) or invest (funds).
Redemptions can be made by following simple steps, and funds are withdrawn into a user’s registered bank account.
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The world is undergoing rapid digitization, be it e-commerce, consumer products, or the financial sector.
Our country’s digital landscape has witnessed similar growth in the past decade. Pakistan’s above 220 million population has 170 million mobile connections and 60 million internet users.
This rapid digitalization can also be seen in the financial sector of Pakistan. According to an estimate, over 70 million people made digital transactions from 2020 till 2021 — a growth of almost 27% since last year. Moreover, WhatsApp remained the most downloaded and used application in Pakistan in the previous few years.
NBP Funds Official WhatsApp Self-service is your way to make investments and embark on your wealth-building journey. Investing through Bank Transfer gets you a unique IBAN that can be used through any mobile banking application. The Bill Generation method requires you to first specify how much you want to invest and then it gets you an investment voucher number.
One significant benefit of using the service is that you do not need to memorise your credentials. You can simply open your WhatsApp and get the job done in a hassle-free, paperless way.