HBL offers the industry’s first Peer-to-Peer QR based funds transfer facility

Habib Bank Limited (HBL) has launched a peer-to-peer QR-based funds transfer facility that would enable HBL Mobile and Konnect to provide the bank's clients an easy and fast way of receiving and sending money for account-to-account fund transfers, a statement said on Monday.

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HBL Mobile and Konnect by HBL launch the industry’s first Peer-to-Peer (P2P) QR-based funds transfer facility in line with the mandate of the State Bank of Pakistan.

This new and innovative feature enables HBL Mobile and Konnect by HBL to provide clients with an easier and faster way of receiving and sending money for account-to-account funds transfers.

Users can now conveniently generate a QR code from their mobile app for transferring funds without sharing lengthy account numbers/IBANs. The feature also offers the option of generating a QR code for a specific amount with an expiry date.

Read more: HBL teams up with AICL to provide dairy, livestock insurance

Commenting on the launch, Abrar Ahmed Mir, Chief Innovation & Financial Inclusion Officer – HBL, said, “HBL continues to innovate and offer digital products and services, that are designed to transform the current banking practices. With the launch of this first-of-its-kind feature i.e., funds transfer via QR, HBL is empowering its clients with increased banking choices enabled by digital inclusion.”

A few days ago, HBL launched Pakistan’s only Branchless Banking Islamic Account, Konnect Islamic Account.

This shariah-compliant account follows Konnect’s promise of ease and convenience and can be opened by using a CNIC and mobile number. Konnect Islamic Account offers all Branchless Banking transactions/services such as Fund Transfers, Bill Payments, Corporate Payments, and much more. A Konnect Islamic Account holder can also apply for Islamic Debit Card to access nationwide ATMs for cash withdrawal and POS transactions.

Konnect’s 45,000 + agents are equipped to open Konnect Islamic accounts. They provide an unprecedented convenience to open a fully shariah-compliant account, especially to those who previously could only be banked via limited Islamic bank branches. The Konnect agents will also be assisting those who are unable to open their accounts via the Konnect App and even those who don’t own a smartphone.

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