Easypaisa, a flagship product from Telenor Pakistan for mobile banking services, is set poised to offer saving and insurance services to consumers in Pakistan in coming months.
These products from Easypaisa will emerge with help of Mobile Money for the Unbanked (MMU) Fund, which is administered by the GSMA Foundation, Inc. with funding from the Bill and Melinda Gates Foundation.
GSMA, in a press release, has said that MMU Fund grant will help Telenor Pakistan to develop a sophisticated savings/insurance product which can be offered on top of the Easypaisa platform.
Easypaisa is seen as a key idea for offering financial solutions for masses without involving physical existence of bank branch.
Easypaisa recently celebrated its initial milestone for completing 1 million financial transactions valuing PKR 2 billion.
Mobile Money for the Unbanked (MMU) works with mobile operators, banks, microfinance institutions, government and development organizations to encourage the expansion of affordable mobile financial services to the unbanked.