IBFT fees down to 0 has helped the average Pakistani see the value of "transacting digitally" without fear. When you remove the barrier to entry you enable many in the ecosystem that were left out prior. @StateBank_Pak good on you for putting citizenry first. Regulation is hard
Esp as viewed by the private sector. So we must all come together to build on the success/rails/supportive regulator to figure out"what fees for what value"should remain in the system.Most things cant work with 0 fee, so use cases for incumbents who have invested must evolve too
This cant be a winner take all game or a zero sum game. The truth is some where in between.Without early market players & investments, digital systems would have not existed. Without infra from telcos/banks we wouldn't be here either esp not without a progressive regulator in tow
In the best eco-systems all parties must co-exist. The time & opportunity is now. The discussions should be around, how to scale the biz/use-cases away from fee regimes alone, to value based pricing. Who ever delivers the best value must be able to price accordingly& have support
Heres to hoping that regulators + pvt players all come together build a consensus & think beyond "the today" use case and think about shared success & a shared future. We are only getting started in this payments game best to co-opt each other vs being reductive in our approach.

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More from @faizansiddiqi

14 Jan
Transitions are good. Current state of play has given us a seat at the table. Online communities are the new equalizer &not geographies.
In-person inefficiency of doing biz is out due to remote.We have the momentum to gain from the insights & discussions across networks anywhere
As all things go virtual, the only thing that matters is brand. Now more than ever, investors, partners, customers & prospect emp, will meet & engage with your content/web presence before they meet you, if ever. Brand is every startups super power or kryptonite. Build wisely.
As we go more location neutral and virtual, rely more on online channels for sourcing, growth sales, hiring etc., your online presence will matter more than ever before. It is the new 10 second interaction to make a good impression.
Read 10 tweets
13 Jan
Realize this: no permission required to change careers, start something new perhaps a hobby or learning how to code.The launch date to the above is ur willingness to enact change.B4 u set out to build a vc backed dream,build a small biz 50/100k annual rev. I assure u it's tough
Small changes like starting a hobby or burning a bridge to move the f* on teach u life's biggest lessons. Always over index on small data vs big data till u cant. Unless you can perfect your skills at a small scale not many can last perfecting skills at a large one. Start today.
Hustle culture 24/7 is reductive. If you are always complaining of too much going on you are likely already loosing the battle. Focus, wins; concentrated execution wins all the time. Don't start something unless u genuinely believe in impact and outcomes of teams vs $s only.
Read 14 tweets
25 Dec 20
No one should be taken seriously that needs a govt handout to do Start-up, If you need that push, perhaps you are the same as all other rent seekers, albeit glorified.
If the government really is serious about some thing and is so inclined, the best this to do is just just get the h*ll out of the way. Imitating incubators and VCs and deploying tax money for a poor country, into these lofty ideals is equivalent to criminal mis spending of funds.
Worse are their fake cheer leaders. Those who get jobs, postings, paper work and more opportunities to mis direct the youth of this country. It is near impossible to do business with the govt. Imagine the challenges and nascent needs of a startup in that position
Read 21 tweets
12 Dec 20
I want to help new founders get off to the right start in 2021. Be a deliberate thinker & actor. Don’t react- pro act. Pre empt. Have a model of how you think positive outcomes work. When data stops meeting reality. Re calibrate. Be intentional. Build frameworks act on them.
What is it that will make a Prosumer Product say product X successful?Is there a gigantic white space for it to succeed? Why doesn't any thing exist in the space? If you operate like this and have some thing viable to show for it we are in business.
I’m increasingly interested in startups that are like hybrid dev shops for a particular industry or sub-industry. The food verticals are all primed for growth.The national craving for $earnings should incentivise local players to start looking at export validated by local growth
Read 11 tweets
11 Dec 20
If you think startups get over night success, re evaluate your thinking. If you are frustrated to read all the stories across twitter etc over how people got in on AirBnB,DoorDash & the Slack IPOs it didn't happen by being on the sidelines.Invest now in Pakistani tech startups
or forever hold your peace. We are at an amazing cross roads where technology continues outperform and eat traditional investment opportunities globally. Tech will also solve for many troubles that Pakistan faces today. Invest in the young talent that will solve for the new PK.
To grow with the startups you have to grow the ecosystem. If you only engage in coffee banter; discussing why startup A will fail & why startup B will fail, all you're doing is working against your self & the ecosystem.This is the new world. Data isnt the new oil, it is the water
Read 10 tweets
11 Dec 20
Thanks @jehan_ara this is always a two way street. You get what you invest in. I have been exceedingly lucky in having some of the best mentors one could ask for. blog.chinookstrategy.com/on-being-so-fo… If you are so inclined you can read more about that here, notwithstanding some lessons
A great mentor is more beneficial than first money or any money in. Look for mentors who prioritise your successful outcomes vs their social media updates. The same test applies to all things in life, if you are going to help some one make sure you leave your camera at home.
Any one who you respect can be a great mentor if you look up to them first because of the individual traits they have vs how $ successful they are. Most folks make the mistake of looking for mentors or seeking help from those who are more socially mobile or visible or rich.
Read 20 tweets

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