As anticipated, Zong, in collaboration with Askari Bank, has today officially announced the commercial launch of its mobile financial services called “Time Pey”.
Timepey users will be able to pay utility bills, transfer money to specified recipients anywhere in the country, deposit and withdraw cash and carry out account transfers.
Zong claims that user convenience has been kept as the foremost consideration in developing this new service. Users do not have to be ZONG customers or even be mobile phone subscribers. As such the service offers complete flexibility to anyone who wishes to avail essential financial services without the need to open a bank account.
Speaking at the launch event, the CEO of ZONG, Fan Yunjun said,
“The launch of the Timepey branchless banking service is truly a major development that will benefit millions of people. This use of modern technology to provide efficient, secure and convenient financial services to the public also has a strong corporate social responsibility angle, as the service will result in several socio-economic benefits, particularly for the low and middle income segments, as for rural and peri-urban segments of society, who are generally not reached by traditional banking. This service is effectively a paradigm shift with far-reaching impact.”
Zong, becoming the third cellular company to launch mobile financial services, has announced that it will debut branchless banking with following services:
Salary Disbursement Solution
This Solution is said to be an end to end Salary disbursement mechanism for organizations of all sizes. Through this product any organization can automate the process of salary payments of their employees. The pre-defined amount is transferred to the Timepey Accounts of the employees on the exact date of salary transfer instantly; the employees will receive an SMS as soon the funds are transferred to their Timepey accounts.
Zong says that this is the safest way of salary disbursement for the organization and the employee where there is no involvement of cash. To get cash the employee can visit and Timepey Agent location and perform a cash withdrawal transaction. All the other benefits and features of the Timepey Account will also be available to the employee.
Business to Consumer Payment Solution
This service will enable organizations to send money by Timepey to many people who may be widely dispersed. The service targets organizations that would like to do:
Timepey Mobile Account
To get your own Timepey account, all you need is to open a Timepey account for the service. You can open for your Timepey account at any of our authorized Timepey Account opening locations countrywide.
Timepey Mobile Accounts are actual bank accounts and work just like a normal bank account. This service is available for existing and new ZONG customers. Timepey Mobile Account can be opened from any ZONG Sales and Service Centers, ZONG Franchise or Askari Bank branch.
Using Timepey Mobile Account ZONG customers will now be able to pay bills, transfer money and use many more services from their own mobile phones, anytime, anywhere. Once a Timepey Mobile Account is opened, users can go to any of the any of the Timepey shops and Askari Bank branches in Pakistan to Deposit Cash into or Withdraw Cash from their Timepey Mobile Account.
Service Charges for Person to Person Funds Transfer:
Zong is offering funds transfer service in following four modes:
Before going into details for transaction charges of Mobile Accounts, let’s compare service charges for CNIC to CNIC fund transfers:
| Transaction Slabs (PKR) | Zong TimePey | Mobilink Mobicash | Telenor Easypaisa |
| 0 – 1,000 | Rs. 60 | Rs. 60 | Rs. 60 |
| 1,001 – 2,500 | Rs. 120 | Rs. 120 | Rs. 120 |
| 2,501 – 4,000 | Rs. 170 | Rs. 180 | Rs. 180 |
| 4,001 – 6,000 | Rs. 230 | Rs. 240 | Rs. 240 |
| 6,001 – 8,000 | Rs. 290 | Rs. 300 | Rs. 300 |
| 8,001 – 10,000 | Rs. 350 | Rs. 350 | Rs. 360 |
| 10,001 – 13,000 | Rs. 400 | Rs. 400 | Rs. 420 |
| 13,001 – 15,000 | Rs. 450 | Rs. 450 | Rs. 480 |
All prices include taxes
Here are service charges for other services:
Limits for Mobile Accounts:
Timepey Agent Locations:
Zong said that it is starting branchless banking services with 3,000 Timepey outlets, throughout the country.
Timepey Agent Locations include: