Govt. committed to creating secure, efficient digital payment ecosystem: Minister

ISLAMABAD,  :Caretaker Federal Minister for Information Technology and Telecommunication Dr. Umar Saif has said that the government is committed to creating a secure and efficient digital payment ecosystem.

“Huawei’s contribution to Pakistan’s ICT infrastructure is a promising step towards a digitally connected future,” he said while talking with a high-level delegation led by Ethan Sun, CEO of Huawei said a news release.

The meeting discussed the importance of enhancing the digital economy of Pakistan.

Dr. Umar Saif further said that the combination of ICT infrastructure and a robust digital financial ecosystem indeed offers significant benefits like reducing transaction costs, enhancing security, and promoting financial inclusion.

Key stakeholders, including banks, microfinance institutions, fintechs, and telecom companies, are integral to this progress, he added.

“Technology, as exemplified by Huawei’s global efforts in mobile money and fintech solutions, plays a crucial role in advancing financial access and creating new opportunities”, Saif added.

Vice President Huawei Fintech Ravenscroft’s emphasis on regulatory support for innovation is essential for fostering a thriving digital financial landscape, as demonstrated by success stories in Kenya and Ethiopia.

The Huawei team was comprised of senior representatives and sector experts including Ethan Sun CEO of Huawei Pakistan, Ian Ravenscroft, VP of Huawei Fintech, Ahmed Bilal Masud, Director of Subsidiary Board and Deputy CEO, Yu Shaoning, Director of Public Affairs and Director Media and Communications Dure Najaf Zaidi.