OTC

Analysing the impact of BVS regulations on OTC Money Transfer in Pakistan

Jul 28, 2017
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The State Bank of Pakistan (SBP), in July 2016, developed regulations on necessitating Biometric Verification for Over the Counter (OTC) money transfers (MT's) in Pakistan. These regulations, published as part of the updated branchless banking regulations of July 2016, are intended to enhance compliance to Know Your Customer (KYC) requirements and the Anti Money Laundering (AML) and Combating Financing of Terrorism (CFT) guidelines issued by the SBP.

Mobile Money: The OTC and Agent Dilemma

Mar 31, 2016
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In Pakistan, there are two primary transaction channels in the branchless banking sector: mobile wallets, and over-the-counter (OTC). In contrast to the mobile wallet platform where customers execute all transactions on their mobile phones themselves, the OTC model is facilitated by an agent. This channel is a convenient and reliable.
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