PSO, UBL sign pact for branchless banking for 3,500 fuel stations - FINANCIAL-24
KARACHI: Pakistan State Oil (PSO), the country's Premier oil marketing company signed an agreement on Monday, 19 June 2017 with UBL, Pakistan's Best Bank 2016, to offer UBL Omni Branchless Banking Services through its 3,500 fuel stations across the country. This landmark agreement will further build upon UBL's 45,000 customer touchpoints already in existence, says a Press release.
The agreement was signed by Arif Sirhindi, Group Executive Payment Services Group, UBL and Babar H Chaudhary, GM-New Business Development, PSO at the UBL Head Office in Karachi. Sheikh Imran-ul-Haque, MD & CEO PSO and Ms. Sima Kamil, President & CEO UBL along with other senior officials from both organizations were also present at the event.
PSO brings widespread and visible presence across the country which allows customers to avail basic banking services at PSO fuel stations in close proximity to their residence. UBL Omni Branchless Banking allows commercial players to offer financial services outside traditional bank premises. This initiative will enable UBL to increase its network footprint.
PSO and UBL Omni through this collaboration; will enhance the customer experience at PSO's fuel stations by providing them multiple financial services including money transfer, opening of branchless banking accounts, instant issuance of ATM/debit cards, bill payments of all major utility companies, mobile companies & top ups, corporate and government collections/ disbursements, etc.
Moreover, UBL Omni is the only branchless banking platform offering Pakistan Railways e-ticketing facility. This agreement will enable PSO stations for Pakistan Railways e-ticketing, whereby consumers can pay for their tickets at the PSO outlets. Customers shall now have these services available 24/7. Once these services are in place, each of PSO's stations will become a one-stop solution for all customers' needs.
Sharing his thoughts on this, MD & CEO PSO, Sheikh Imran-ul-Haque said: "Pakistan State Oil has ventured into the realm of non-fuel business to bring a host of additional products and services to further facilitate its customers at PSO retail stations. Customers can now access and avail a plethora of services including their on-the-go needs through modernized convenience stores, quick-grab-a-bite meals, financial services, etc. while refueling their cars. The services bring great ease and access to the customer, in line with PSO's most cherished commitment of providing the best services and experience to its customers".
Expressing her views at the event, Ms. Sima Kamil, President and CEO, UBL said, "UBL wants to go beyond providing traditional financial services through branch banking, to its consumers and the general public. Our partnership with PSO will enable us to remotely serve a larger customer base across Pakistan and ensure customer convenience at leading PSO fuel stations. We are confident that this UBL and PSO partnership will further enrich our national Financial Inclusion initiatives".
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