Title

Visa money transfer (VMT): Pakistani senario

Author

Saqib Azeem

Degree

Master of Business Administration Executive

Faculty / School

Faculty of Business Administration (FBA)

Year of Award

Spring 2018

Project Type

MBA Executive Research Project

Access Type

Restricted Access

Keywords

Visa money transfer | Credit banking | VMT -- Pakistan

Executive Summary

Visa money transfer (VMT) is an electronic funds transfer facility that is used by individuals, businesses and even by governments to transfer funds from one place to another. VMT is also used for remittances but currently the scope is limited. I have discussed this in my report that if this system is supported by central banks of an economy that it would yield positively. To support my research I did both primary and secondary researches. A sample of 92 people was selected based on the population of 7000.000 at 95% confidence interval and 10.2% as margin of error. The research results are positive which shows that people are willing to switch from existing money transferring methods to Visa money transfer (VMT) if they are provided with proper convenience, cost structures and security while transferring funds. All the services offered by VMT which makes it a good choice for remitting money. However implementing VMT is not easy until government provides subsidies and increase span of people using Visa cards. Once this milestone is completed than both local governments and Visa will reap fruitful results. Implementing this system properly will help banking channel and governments to cure money laundering. Commercial banks an use those funds for further creation of wealth thus creating opportunities for an economy. In addition to that this will help in reducing undocumented economy especially in third world and developing nations where the ratio of remittances to rural areas is high. This system will help document foreign inflows properly.

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