Lahore: FINCA, one of the fastest growing microfinance banks in Pakistan, has signed a Memorandum of Understanding with The City School for the payment of school fees through smartphones to make the process easy for parents.

This collaboration introduces an innovative system of payment for parents whose children are studying in The City School. By using SimSim, a free mobile wallet as a digital payment method, parents will be able to make hassle-free school fee transactions from anywhere.

By creating a mobile account through the SimSim app, parents will reduce costs, boosting financial inclusion and digitisation of our economy; through FINCA. Payments through SimSim can be made from anywhere in Pakistan with just a single click.

Sharing his views, M Mudassar Aqil, CEO of FINCA Microfinance bank said, “We are really excited about our collaboration with The City School, leading to expanding the world of digital mobile payment methods and facilitating parents with easy, cost effective, and quick processing of school fee submission through smart phone.”

On this occasion, the Chief Financial Officer of The City School Mr Kamran Haider said, “The City School is proud to provide yet another service to make the lives of our parents more convenient. We are confident that the agreement with FINCA will offer ease of access to digital financial channels for our parents nationwide.”

All one has to do is simply download the app and set up a “wallet”, ensuring a smooth transfer of payments.

About FINCA Microfinance Bank

FINCA Microfinance Bank Limited is part of the FINCA Impact Finance Network, a group of 21 microfinance and financial institutions that provides socially responsible financial services and enables low-income entrepreneurs and small business owners to invest in the future.

FINCA is also one of the fastest growing microfinance networks in Pakistan with 110 branches in over 94 cities across Pakistan. Since its inception 8 years ago in Pakistan, FINCA Microfinance Bank has given over 41.5 billion rupees through 518,000+ small loans to microenterprises, helping them grow their businesses, and creating thousands of new jobs. FINCA is considered to be the pioneer of cash flow based unsecured lending in Pakistan and has the distinction of the highest average loan ticket size in unsecured lending in the Pakistan microfinance sector. It also provides attractive deposit options and state-of-the-art payment solutions with an unparalleled customer experience. FINCA is a name you can trust.

About City School

Established in Karachi in 1978, The City School brand is today one of the largest private school networks in Pakistan with branches in all major cities across the country. It currently has 180 schools in 52 cities with over 130,000 students. The City School continues to expand its reach to meet the demands for quality education. The knowledge and skills-based curriculum derived from the UK national curriculum guides students from Nursery to Cambridge International Examinations (for the 16 and 18-year age group), qualifying them for the IGCSE, and O and A Level examinations. The uniform implementation of the curriculum gives parents, students, and teachers the advantage of a smooth and efficient transfer from one school to another within the system.