Bayfikr is an international fintech startup that is incubated with the National Incubation Center. The app has big dreams of disrupting the current remittance solutions. Bayfikr will enable overseas Pakistanis to pay regular dues, including utility bills, hospital payments, education fees, and other businesses in Pakistan directly. They do not need to go through any hassle like before. All they need is a foreign account or card.
Two Pakistanis founded the app when they realized that none of the current remittance solutions goes with the modern and digital Pakistan. Like all other overseas Pakistanis, they were also not able to send money to their family quickly. That’s when they came up with this plan.
The CEO of Bayfikr named Rascim Khattak, states:
“Pakistanis living in UAE or UK, have to take out time from their busy schedules to physically visit an exchange house or a Pakistani Bank to remit funds to their families in Pakistan. This remittance is mainly in cash, which a family member in person must then collect to use for their monthly expenses. Otherwise, they must first send money to a Pakistani bank account through an app, wait for the funds to arrive, then login to that Pakistani bank account and finally pay a bill or a business if that bank services the biller. Both cases are indirect, take time and are expensive.”
The main motive of Bayfikr is to provide control over funds to all the overseas Pakistanis. The users can now make their home payments on their own in just a few moments. They no longer need family involvement in such matters.
Bayfikr is in its final stages of launching a user-friendly app. This will make the whole process more simple and hassle-free. The UK, UAE, and Pakistan are the only countries where this app will be operating for now. There are talks of expansion to other countries as well.
Bayfikr has opened the pre-booking for its users, which can be done on their official website.