Alert Alert ! Currency Notes can be Dangerous for you ,COVID-19 , Here's What You can do to Avoid It. 

Amid this outbreak of Covid, nations are putting their best foot forward and taking extraordinary steps to curtail the situation at hand.

Worldwide, the ‘Coronavirus Economic Crisis’ is a popular topic of discussion as it will have a Destructive impact on the global economy. To reduce the risk of a global economic meltdown, it is vital for countries to curtail COVID-19.

Washing and sanitizing hands constantly is considered to be one of the best bets in the battle against coronavirus. However, there’s still the possibility of contracting the virus through objects that we touch daily such as currency notes.

World Health Organization’s Guidance

The World Health Organization (WHO) stated that the coronavirus can survive on the surface of currency notes and the organization issued a worldwide recommendation to the public, advising against the use of tangible currency (cash notes, coins and debit/credit cards) to limit the spread of the virus.

Countries that have been greatly affected by the pandemic, such as China, have taken specific measures to disinfect banknotes. They have started putting currency notes through a high-heat ‘laundering’ process to get rid of any traces of the virus before releasing them for circulation. Similarly, the U.S. Federal Reserve has begun quarantining physical dollars repatriated from Asia before recirculating them in the U.S. financial system as a precautionary measure.

In light of the global warning issued by the WHO, it is safe to say that measures are required to entice change in customer behaviors and preferences. Pakistan, being one of the newest victims of COVID-19 with more than 500 cases reported already, has a pivotal role in this situation.

Paper Currency Notes in Pakistan

Approximately . 80% of all transactions in Pakistan are cash-based. Paper currency is the preferred mode of payment for individuals and businesses on all levels. Earlier, this was done to avoid taxes but at this moment, using paper currency possesses a threat since the way notes are exchanged here is a risk.

Recently, the State Bank of Pakistan (SBP) has introduced stringent measures to limit the coronavirus crisis by promoting the use of Digital Payment Services and to avoid all contact with physical objects like notes, etc.

In addition, SBP has also instructed all banks to waive off all transactional charges for customers using their online fund transfer services including Intra and Interbank Fund Transfers (IBFT). In addition to that, the SBP has also advised banks to run campaigns on print, electronic and social media to create awareness and promote the use of Alternate Delivery Channels (ADCs) to limit the use of currency notes and minimizing branch visits.

Easypaisa and Other Mobile Wallets

A silver lining is the use of mobile wallets and digital banking platforms like Easypaisa. At such a time when currency notes pose a risk of getting infected, m-wallets and payment solutions have a responsibility to take the reins and being the leaders of change.

When Easypaisa was launched in 2009, it was the first of its kind fund transfer service and today, with a refreshed digital platform, it is one of the most effective tools available to consumers. This is something that newer m-wallets can cash in on and give a healthy competition to the existing ones.

With restaurants shut, government offices facing a closure and all other services suspended, digital and payments and paperless transactions can undoubtedly play its part in promoting a safer environment.

Easypaisa is already providing services to millions of Pakistani users, enabling them to use mobile payments easily without having to deal with paper currencies at all. Similarly, the application’s features areas such that consumers can benefit from a variety of services such as swift money transfer, bill payments, mobile top-ups, insurance payments, easy loads/bundles, ticket purchasing, receiving remittances, etc., remotely without the need of being physically present at a bank or public place.

JazzCash, Keenu Wallet, PayMax and JSwallet are also some of the applications which have similar business models and let you avail all digital banking services remotely via your smartphone.

Govt of Pakistan remove duties on medical items , click here

A Chance 

This is a self-contradicting minute where governments, monetary establishments, and organizations have an extraordinary test however a similarly planned chance. Amidst this lies an unmistakable opening, to embrace a broad move towards computerized money related arrangements. 

Other than the utilization of portable applications and advanced banking, Pakistan additionally needs to advance the utilization of internet business, empowering residents to buy ordinary things. Notwithstanding that, we need wide-scale combination of such internet business stages with installment suppliers to endure this episode. 

It has become basic that purchasers recognize their job in the more prominent condition for the successful avoidance of coronavirus contamination. This minute calls for gaining from different nations in their battle against this destructive illness