ABHI and Telemart Partner to Provide Buy-Now-Pay-Later Smartphone Financing in Pakistan
ABHI, an embedded Fintech company, and Telemart, a leading e-commerce marketplace, have joined forces to offer Buy-Now-Pay-Later (BNPL) Smartphone Financing to thousands of ABHI app users across Pakistan.
The Importance of Smartphones in the Digital Age
As the world transitions from physical to digital, smartphones have become a vital tool for accessing information and communication. Owning a smartphone is no longer considered a luxury, but a necessity. With the growing dependence on technology, smartphones have become an essential part of daily life.
Making Smartphones Accessible with BNPL
The BNPL facility will enable low and middle-income earners who may not have been able to afford a smartphone upfront to purchase one in easy monthly installments (EMI) with their earned salaries. This initiative aims to empower individuals digitally, driving them towards online communication, education, content consumption & creation, e-commerce, digital payments, and more.
Securing the Lending with State-of-the-Art Technology
To facilitate lending, Telemart is using state-of-the-art technology in partnership with a global tech company to block the smartphone in case of default or non-payment from customers. This technology secures lending for ABHI while mitigating the risks associated with BNPL for smartphones in a country like Pakistan.
Transforming Society and the Economy with BNPL Smartphone Financing
On the day of signing, Mr. Sarkhail Bawany, Head of Product at ABHI, highlighted the importance of the partnership, stating, “Providing BNPL smartphone financing and digitally empowering the masses will have a transformative impact on our society and economy. By making smartphones more accessible to thousands of users, we can create a more opportunistic society in the digital age.”
Increasing Smartphone Penetration and Financial Inclusion in Pakistan
Mr. Hamza Abdul Rauf, Co-founder at Telemart, commented, “Pakistan ranks very low in terms of smartphone penetration and financial inclusion. With an initiative like this, we can contribute towards increasing both smartphone penetration and financial inclusion for Pakistan while empowering and enabling masses with technology.”
