Karachi: Virtual Remittance Gateway has announced the signing of a groundbreaking agreement for Agent Interoperability, in partnership with HBL Konnect and Easypaisa, in the presence of senior officials from the State Bank of Pakistan. This agreement is seen as a major step forward for branchless banking in the country, aimed at increasing financial inclusivity and fostering innovation.

According to a statement by Habib Bank Limited, the agreement focuses on building an interoperable agent network, promoting collaboration among financial institutions to meet the State Bank of Pakistan's vision of a digitally inclusive economy. The agreement includes plans to integrate and pilot test the solution, evaluating its feasibility across technical, operational, and business dimensions. Successful pilot outcomes would lead to scaling the solution commercially with broader participation.

The VRG's Interop Switch will connect agent networks across various financial service providers, creating a unified platform for users to perform financial and non-financial transactions. This development promises to expand the reach of HBL and Easypaisa services across the country, simplifying access to banking for millions of Pakistanis, especially in remote areas.

The platform is expected to facilitate a wide range of services, including government grant disbursements, bill payments, credit services, and micro-insurance. It also aims to enhance economic opportunities for women and underserved communities, addressing the financial inclusion gender gap and leveraging agent networks for increased outreach and impact.