Banking of Tomorrow……Today

Disclaimer: This post represents a personal experience, and is not intended to be construed as a product advertisement in any manner

Although not a lot of people know about it, UBL has launched a truly online banking facility by the name of Orion – mobile wallet. It is an intuitive and convenient way of making payments, paying bill and transferring funds.

Anyone can open an Orion account via the internet, or by sending an sms in the following format: “Register (Your Name) (Your CNIC) to 8257”

Funds can be credited to your Orion account through any UBL Online branch.

I was able to transfer funds and make payments within half an hour!

Orion is being slowly adapted across Pakistan. Websites like Lootmaar are using Orion as the preferred payment system, which makes the transaction secure and hassle free.

I guess we all can help making our transactions safer by signing up for Orion. Get more details here

11 Comments so far

  1. Huzefa L (unregistered) on January 31st, 2008 @ 2:40 pm

    Are you sure you aren’t a UBL rep?

    "I guess we all can help making our transactions safer by signing up for Orion. Get more details here."

    That definitely is a product advertisement whether you intended or not.

    They have ridiculous charges for everything. Their trial period ended today. They don’t have a single feature that doesnt have an alternative that is equally or more convenient. Who really benefits from this?

    Honestly, cash is king for small amounts, which is what Orion caters to.

  2. verysmart (unregistered) on January 31st, 2008 @ 3:27 pm


    Micro Payments is a hugely adopted service in south east asia, specially countries like Thailand and Philippines, which have economies similar to us (Philippines is also called Pakistan of South East Asia)

    A Largely liquid economy is not really good thing for any country. let alone a country where corruption is already rife.

    With stats showing 72 million SIM Card sales thus far in Pakistan, even if we take a discounted figure of 40% of 72 millions (minus people who have more than one sims in use) as unique users of mobile phones. This translats to nearly 29 million unique users.

    Some state bank figures suggested that just over 5 million Pakistanis have bank accounts. Which means banks can open up a market for them which has a current potential of increasing their customer access to six folds.

    The monthly SIM Card sale is nearly 2 millions, which means that in 2008 24 million more SIMs will be sold if we keep the same discounted rate of 40%, it means a further 11 million users by the end of this year.

    If these banks can keep their service charges lower, micropayments can really be a great step in the right direction

  3. Huzefa L (unregistered) on January 31st, 2008 @ 3:57 pm

    I still don’t see the point.

    – How does this reduce corruption?

    – If someone doesnt use a bank account, what incentive do they have for using this?

  4. Property in Tangier (unregistered) on January 31st, 2008 @ 4:12 pm

    AOA to alls

    It is a good post because it is a information for
    customers of UBL bank and for others people also whose want to open an account in any bank.It is a good information also.

  5. Anathema (unregistered) on January 31st, 2008 @ 4:16 pm

    been using orion since its soft launch. the best option i have is instant purchase of a mobile prepaid cards without having to draw cash. just load to my account and go ahead and purchase. plus with instant mobile cash you dont need to draw large denominations and watch balance amounts fall away from your wallet.
    as for not having a UBL account: u can work it through. check the FAQ on the site.

  6. azhar (unregistered) on January 31st, 2008 @ 4:42 pm

    thnaks for sharing. i;d seen ads on the tele but now have more info. :)

  7. simorgh (unregistered) on January 31st, 2008 @ 5:48 pm

    well the last i checked , thats today , the trial period is somehwere in March, and as far as i have tried it , there have been no charges for the all prepaid cards i’ve bought, and it was so conveneient especially during the sundays or the eid holidays .. its working fine for me … am actually thinking of openeing a ubl account becoz of it.

  8. Huzefa L (unregistered) on January 31st, 2008 @ 6:26 pm

    @all those who think this is a good way to buy mobile credit:

    Wah! All this trouble so you can get prepaid mobile credit instantly.

    Easy solution. Keep a spare scratch card handy. When you use it up, buy another.

    "I was able to transfer funds and make payments within half an hour!"

    Every panwallah and his bhatija sells scratch cards. I can pay him and get my card from him in under a minute.

    If you wanna go all high-tech, most eBanking services also let you buy prepaid cards online.

    I hope I’m not the only one who thinks this is a useless service.

  9. verysmart (unregistered) on January 31st, 2008 @ 7:22 pm

    Dear Huzefa
    hmm.. have u heard of a little thing called KYC? or Know your Customer? it is a requirement by the central bank for all the banks to know the capacity and capability of a customer’s monthly transactions. Means if you have 3 Million Rs in your account and , and all of a sudden you do a 100 million Rs transaction in your account., the bank will stop this transaction and you really have to justify to the bank, how you got this amount.

    Consider a economy where 50% population is an account holder, this means the money flows in and out of the economy paying taxes, notified to the government and is also justified hence not black. With this white money sitting with the banks, the measure of the banks capital will grow tremendously, and the banks can give out more and more loans to more and more businesses on lesser and lesser Bank rate. this will hugely brings down the cost of doing business and hence KIBOR can lowered, substantially aiding the economy.
    try this link here to understand how the Nigerian banks are looking at the technology

    I am trying to give u examples of countries which are more and more structured like ours, Nigeria has a similar type of GDP and faces the similar corruption rates as ours.

    Having to have more peopel carry a bank account, it cuts down corruption big time. Have you ever tried committing a monetary fraud in UK? you will be tracked down in a matter of hours, and you will carry a BAD CREDIT HISTORY for the rest of your life on your credit report.

    The reason is that the Economy is then structured in a way that circulation of cash gets more and more limited and hence if I try to take rishwat from you, i will find it really really difficult to keep it or either spend it, coz If u give me 200,000 Rs in terms of rishwat, and I suddenly buy a better car, my income statement will show that and I can be questioned by the tax authorities.

    Try and read the above PDF to understand how economy is helped out if more and more people have bank acounts and Electronic Payment Channels are setup across the country.

    And Dear Huzefa, please try to see things in a bigger perspective, its a start, and it aint bad.

    If you open up your vision you will realize that the opportunities are far brighter. Let me try and give u a feeler of it.

    Lets say for example, we have 500,000 small shops all over the country, like those corner shops. 80% of these corner shop owners keep their money in cash terms in their homes. Lets say each DUKAN does a turnover of Rs 100,000 on average per month. This means that a turnover of 50,000,000,000 (PKR 50 billions) per month is unreported and unaccounted in the economy. Now had our banks have a share of these 50 billions available to them every month, it means a 600 billion worth of annual monetary transaction can be available to the banks to lend it further to the businesses on a reduced cost of funds.


  10. sL (unregistered) on February 1st, 2008 @ 1:43 pm

    UBL is the most pathetic bank !
    they sent me a credit card bill before they even issued me a credit card – Such are their controls !

    Nothing from UBL be it Orion or Oreo — and is this a product promotional site, i see ppl promoting such stupid brands and god knows all awl fawl restaurants.

  11. Kashi (unregistered) on February 7th, 2008 @ 5:31 pm

    UBL sucks.. BIG Time! I remember their "Galleria" picture Credit Card scam…

    I ordered that card twice… and was promised to be handed over the new card within 2 weeks MAximum!

    It’s been over 7 months and I still have’nt heard of the card! They dont even know if I placed the order!

    Even after numerous complaints, they do not even have the courtesy to call me up and say ‘sorry’!

    Secondly, regarding Orion.. I was informed about this product long before it was about to be launched.. by a SVP of the bank.. (my teacher).. he thought the product is doomed for failure as the instructions are too complicated and the services are not worth the effort! I guess he was right!

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