The Covid-19 has turned things upside down. During a crisis, where people have suffered a huge loss, the crisis has also provided opportunities for many people. The technological revolution has been taking place, but Covid-19 has accelerated the pace of technological adoption. The school has turned to online learning, and the working place has adopted Working from Home WFH.
The lockdown has forced people to adapt to new realities. People from the comfort of their homes are looking for opportunities to invest and earn. There are no better investment opportunities than investing in the stock market. The stock’s recent gain has lured many amateur investors, who have put their savings for an easy return. The accessibility has attracted retail investors to invest without having to pay a penny in commission. Pakistan has been very slow to adapt to the new reality, and people are many risks averse. They like to put their saving in their which depreciate their value. The tech revolution has provided many easily accessible platforms for investing. The new YPay financial investing platform is making new strides in bringing the common people opportunities to invest and earn for a hard time.
YPay Financial Services
By now, you must have had some idea of the worsening economic condition of Pakistan. Now, when it comes to educating people about financial literacy, educational institutions, telecommunication departments of the country, etc., play a pivotal role. Given the general literacy ratio of Pakistan, the educational institutions are clearly not doing their job correctly. Therefore, YPay Financial Services jumps in to cater to the underlying problem: the lack of financial literacy in Pakistan.
One platform: thousand opportunities
YPay is a digital investment application that enables aspiring investors, paid monthly, women who run small businesses, students, and anyone who has individual financial needs, investing in mutual funds. YPay Financial Services’ application, in collaboration with various economic bigwigs of Pakistan such as Al-Meezan, HBL, UBL, etc., allows one to explore different kinds of mutual funds and directly invest in the funds of their choice, all in a single go through YPay Financial Services’ mobile application.
Investor Awareness program:
YPay has a financial literacy program; it offers free consultancy and enables users to benefit from 1 Click Transfer. YPay financial services give extreme importance and significance to user experience and the promotion of financial literacy. These are some of the significant features of YPay Financial Services that make it stand out.
YPay plans to make 2021 remarkable for small investors. The platform will be launching a different product and penetrate the market as much as it can. Whether it’s university students or early professionals, it will be providing a platform for them to invest directly. Furthermore, the social consequence of all efforts would be that Pakistan’s Investment to GDP ratio would grow.
TRACTION TO DATE
- October 2020 – YPay got approval from the SECP to operate as the centralized online platform for Mutual Funds
- November 2020 – NIFT signs agreement with YPay as their payment/investment facilitation and KYC/AML partner.
- December 2020/January 2021 – YPay signs agreement with AWT Investments Limited and AKD Investments Management Limited as their digital distributor of mutual funds
- February 2021 – Beta Testing started with the closed audience
- March 2021 – Daily Finance nominated YPay as one of the top fintech in Pakistan
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