Easypaisa today announced that it has become first Pakistani operator to offer Mobile Financial Accounts to customers of any mobile phone company.
Telenor, in a press statement, said that it enabled ‘Other Mobile Operator’ interoperability through SMS based transactions for feature phone users and a smartphone app for smartphone users.
Together the two features mean that everyone in Pakistan — regardless of their Operator’s SIM — can now open the Easypaisa Mobile Account and operate it via any of the available channels of their choice including App, SMS, USSD or phone banking.
Also Read: EasyPaisa Launches App to Completely Manage Your Mobile Wallet Account
The Easypaisa app enhances the experience of using Branchless Banking services by folds. It enables users to send money to any CNIC in Pakistan or into any account, be it branchless or traditional banking account,with extreme ease.
Similarly paying utility bills of any utility company in Pakistan or buying any operator’s airtime is now a much more user-friendly and faster experience.
You can download EasyPaisa Mobile app from here
For non-smartphone users, the SMS based transaction experience is as fast, slick and user-friendly as the previously used USSD experience was – this completes the full range.
Expressing his views, Ali Riaz Chaudhry, President and CEO of Tameer Bank, said,
“We are extremely pleased at this ground breaking achievement, a testament that Easypaisa remains at the forefront of empowering people through innovative, technologically driven, and low cost financial services.”
Delighted at the launch of these unprecedented services, Muhammad Yahya Khan, Head of Easypaisa, said,
“Being the industry leader, Easypaisa has achieved yet another milestone that will revolutionize and fuel the next wave of growth in the Mobile Money industry.
Through the Easypaisa App and SMS based Other Mobile Operator interoperability, we are providing anyone in Pakistan regardless of their telco Operator’s SIMnot only enhanced functionality and freedom to opt for Easypaisa as their preferred mobile money account, but also a choice of interface amongst the many channels that we offer.
This unparalleled convenience and accessibility will eventually translate into financial inclusion for an ever increasing number of subscribers.”
Easypaisa currently operates with over 2 million active subscribers. Easypaisa Accounts allow subscribers to send, receive, or save money, pay their utility bills, buy any mobile network’s airtime, pay online, get insurance and more.
Easypaisa empowers customers with multi-channel and user-friendly interfaces, offering a choice between USSD, phone banking, ATM, SMS service and the Easypaisa App.
Ubl Omni supports this from almost 7+ years.
UBL what?
Dyslexic? Or just blind?
Can anyone tell if there are any negatives to using this as an everyday account compared with normal bank accounts? Too much hassle in getting a normal account opened for freelancers so as my 2nd account been using easypaisa! ATM works fine and now the mobile app works great!
Just not comfortable using it as a regular account for some reason!
Its as secure as a regular bank account. If your concern relates to security then you shouldn’t worry too much.
The only problem I see is a checkbook and check deposits but if your use does not require them then you’re golden. Stop worrying!
I guess my worry is in case something happens I can’t go to bank to get it sorted! Like losing ATM etc!
You can always go to Telenor S&Scs or call 3737- Easypaisa’s helpline
Its not first, don’t forget about JAZZ CASH
what is jazz cash ?
is it related to bit coin ?
No its the service of Jazz. Pakistan’s No 1 Mobile Network
i think you don’t understand what the article said, it is an industry first and surely an awesome initiative!
Jazz Cash came later, Easypaisa remains the first and largest branchless banking service in Pakistan.
JAZZ CASH LAUNCHED IT BUT NOT ADVERTISED. ITS A BAD POINT OF IT.
Aamir – could you please explain how this would qualify for an “inter-operable” system? Call it Telecom Agnostic, its not Interoperability my friend.
Interoperability ? No, this is not
It sound good, but not realistic. Firstly there should be a clear dis-claimer for the taxation element, which user knows only when he has transfered funds to the beneficiary, and the tax is deducted. Several disclaimers are essentially needed.
Good/positive note about Easy Paisa is now majority owned by Telenor ASA, hence it will take and consider the hacking, Cyber Security, Cyber Crime, Cyber issues related to payment systems. Being in the Digital Financial Services organised by the ITU, Geneva with membership of our Central Bank SBP, and other central banks, I feel possibly secure as long as Telenor ASA takes responsibility. Secondly being an international group should have a strong advocacy on taxation on Mobile Internet which is killing the sector. The issue of taxation on remittance and payment is also very important. Being in advocacy with SWFT for Cyber Security to the global paymenet systems which was hacked by Central Bank of Bangladesh last month, and now Some Vietnamese. The European Central Bank, and Swift also are working hard for memebr administration. I suggest Telenor management sto seek assistance from SWIFT on their international and domestic payment system. SWIFT is the only organisation which can save Pakistan from un toward things.I