Octo3, a Hong Kong-based financial technology company is planning to relocate its Research and Development department. And they clapped their eyes on Pakistan.
Octo3 runs a modern payment system offering services from a debit cardholder to an eCommerce company. The company believes that Pakistan’s growing technology market would need modern modes of payment.
To cater this, the company announced that they intend to move their R&D and other departments to Pakistan. The company also have a faith in the talent found in the country and believes that combining the effort would help both; Pakistan and the Hong Kong-based fin-tech company.
Tyrone Lynch, CEO Octo3 said:
We have decided to shift our entire R&D department and other core function to Pakistan from Hong Kong as the country offers a lot of talent in the IT sector.
The financial technology company also have eyes on CPEC. The company has already calculated the benefits following CPEC and the growing Information Communication Technology (ICT) infrastructure.
The fin-tech company would work side-by-side with some local banks and financial institutions. And they’re in middle of successful dialogs with several financial service providers.
One key thing to learn about Octo3 is its co-founder. Ajmal Samuel is the co-founder and chairman of Octo3 and sees this move as huge both for the company and the country.
Samuel also told that giants like Amazon also have measured the success rate of investing in Pakistan:
The e-commerce growth is so huge in Pakistan that some global players like Amazon have asked us whether our company can provide any digital payment solutions from Pakistan.