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SECP’s fee payment facility by credit cards gaining popularity abroad

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ISLAMABAD: The facility of paying fee by credit cards launched by the Securities and Exchange Commission of Pakistan (SECP) on March 10, 2015 is achieving objectives and now SECP has been receiving fee through credit cards from various countries includes: Belize, Hong Kong, Netherlands, Saudi Arabia, Singapore, UAE, UK, and USA.

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On March 10, 2015, the SECP has introduced fee payment facility via credit cards in its eServices regime. The step was taken to enhance the culture of plastic money environment. This service put SECP at par with similar organisations/registries in developed jurisdictions.

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This online payment facility allows a promoter or investor to complete all the requirements, required for registration of a company online, including the submission of fee through credit cards. This new facility speeded up the registration time.

SECP is hoping that this new service will be widely used by the stakeholders in Pakistan as well as throughout the world, and will result in increase in the number of registered companies in future.

Moreover, the facility of payment of fee via banks for those not having credit card is still operative. First the designated branches of Muslim Commercial Bank (MCB) were allowed for the submission of SECP challans but now the SECP has also added United Bank Limited (UBL) branch banking for its fee, whereby designated branches of UBL will accept payment of SECP challans.

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