Master of Business Administration Executive

Faculty / School

School of Business Studies (SBS)

Year of Award



Dr. Mohsin Sadaqat, Assistant Professor and Head of Finance Lab, Department of Finance, Institute of Business Administration (IBA), Karachi

Project Type

MBA Executive Research Project

Access Type

Restricted Access

Executive Summary

With the advancement in technology and internet penetration, more and more people are relying on digital transactions to save time and have a seamless user experience. Globally the growth in payment gateways and digital transaction has been exponential however in Pakistan, the growth has been slow. There are many factors involved in the slow growth and one of the prime factors is the absence of a unified payment gateway.

Mutual fund industry of Pakistan can also benefit from the introduction of unified payment gateway. Our research is focused on the study of unified payment gateway and its impact on the mutual fund industry of Pakistan.

The objective of this research is based on identifying technical and regulatory challenges in implementing a unified payment gateway along with assessing the potential impact of the enhanced payment gateway on increasing the industry’s customer base as well as the assets under management.

In order to conduct our research, we used both the primary and secondary research methodologies. An online survey was designed and distributed amongst 100 participants out of which 74 responses were received. Results of the survey showed that approximately 36% of the participants have an account in an asset management company. More than 70% of respondents who used to invest in mutual funds responded that the digital 2-step process is complex. More than 85% of respondents who used to invest in mutual funds agreed that a simple process will encourage them to make frequent investments.

Interviews were also conducted with industry experts which was mainly focused on our research objectives. Most of the industry experts identified technical and regulatory hurdles. Most of the industry experts agreed that the existing two-step process is complex which is a major hurdle in increasing the customer base as well as increasing the assets under management.

For secondary research, digital on boarding data was also collected from one of the asset management companies of Pakistan. It was observed that 35% of the potential investors who have generated reference numbers do not make final investments.

After conducting the research (both primary and secondary), it can be established that the introduction of single step payment gateway can prove to be a major factor in increasing the customer base as well as assets under management of the mutual funds industry of Pakistan. Close coordination is required between SECP and state bank to formalize a comprehensive framework which can cover all the aspects such as technology, Cyber security, payment settlement, fraud detection, dispute resolution.

Asset management companies also need to invest in technology as well as information security infrastructure to make the investment and digital on boarding process seamless without any manual intervention.


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