Digital apps gain edge over banks Overseas Pakistanis prefer applications to send money as they offer better rates The reason why Pakistan is still lagging behind is its conservative regulatory landscape, which does not cater the fintechs in the digital payments space. PHOTO: REUTERS KARACHI: Exorbitant currency exchange rates offered by banks have discouraged scores of people from sending money home through conventional banking channels. As an alternate, they consider digital applications useful due to stable and low fee coupled with a hassle-free transaction. Mohsin Hussain, a Pakistani student pursuing PhD at Warwick University, UK, told The Express Tribune that he sends money through a money transferring mobile app called Transferwise.