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:
- Mobile Account
- Level 1 Account
- Level 2 Account
- Person to Person Funds Transfer
- Bill payment
- Mobile Balance Top Up
- Business Solution:
- Salary Disbursement Solution
- Business to Consumer Payment Solution
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:
- Promotional payments
- Field staff disbursements
- Dividend payments
- Support Payments
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:
- CNIC to CNIC
- Mobile Account to CNIC
- Mobile Account to Mobile Account
- CNIC to Mobile Account
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:
- Utility Bill Payment: Free
- Mini Statement: Free
- Balance Enquiry: Free
- Timepey Account Opening (Level – 0): Rs. 58
- Timepey Account Opening (Level – 1): Rs. 58
- Cash Deposit (For Timepey Account Holders: Free
Limits for Mobile Accounts:
- Level Zero Account:
- Limit Per day: Rs 15,000
- Limit Per Month: Rs. 25,000
- Limit Per Year: Rs. 120,000
- Maximum Balance Limit: Rs. 100,000
- Level One Account
- Limit Per day: Rs 25,000
- Limit Per Month: Rs. 60,000
- Limit Per Year: Rs. 500,000
- Maximum Balance Limit: Unlimited
Timepey Agent Locations:
Zong said that it is starting branchless banking services with 3,000 Timepey outlets, throughout the country.
Timepey Agent Locations include:
- ZONG Customer Service Center
- ZONG Franchises
- Askari Bank Branches
- Timepey Shops/retail shops
y no they bring something new???? Copy telenor :(
copying is not the solution always!
what is “Business to Consumer Payment Solution”?? This is the part where i am interested
I am waiting for more detail on this. Will do a seperate post when I will have something.
do u know how paypal works? it is the same thing as of paypal business solution.
this option simply eliminates retialer or vendor or intermediary from the scene and the business directly communicates with the user by sending an sms or magazing or by using diff mediums of communications.
the business directly deals with the consumer.
hahaha…rightly said…mobilink and zong copied telenor. Pathetic people in mobilink and zong
You could also say that all the banks in Pakistan copied foreign banks because they offer banking services? According to your point of view there should only have been ONE BANK in the country to provide account opening and banking services because other banks would be “copycats” in your “knowledgeable” opinion. All these solutions i.e. easypaisa, mobicash, Omni and Timepey are Branchless Banking systems aimed at providing common people banking services which otherwise are either out of reach of common people or are difficult for banks to provide. Wait till you see all other banks in the market with similar solutions because there is a tremendous demand in the market. Ufone is also under process of developing the same as are HBL, ABL and other banks and Telcos,….”YOU DON’T KNOW WHAT YOU DON’T KNOW”
charges kam hain Mobi, E.paisa se
Dear Aamer,
I suggest you to add PINTEREST in sharing options too. http://www.pinterest.com is growing very fast in terms of visitors and the time avergae visitor is spending on it. ProPakistani presence on it will be good in all aspects. Good luck.
Charges same as Zong?
The Good thing is there are no monthly charges for the account, and therefore its best for me. You pay charges when you send money. Utility bills and Mobile Top up are free.
Totally Use Less Offer! Just for business, not for common people
withdrawing money should be cheap.>only Omni is offering very cheap withdrawing money from account..but they have technical issues..i opened my account used that account for more than 2 months n recharged 4,5 mobile cards tooo.but after that my account got blocked n they r saying k mera form nahi puhancha ubl tak retailer se to mera accnt verify nah or close kar rahe hain :@ retailer said k saray form jachuke hain..its been 6-7 month my issue is still not solved despite of many complains
better stuck with Bank Accounts rather than these disposable products.
Tell that to a person living in “dharki” where you wont find a bank branch in miles or the lady who you pay every month to clean your house or to cook your food or your driver. These services are aimed at exactly those people and these people far outnumber people like you and me in our country. There are around 30 million people out of 180 million in your country who have bank accounts. These services are being offered for the rest of 150 million so it doesn’t matter if you open an account with them or not.
btw mobicash ne 8k-10k ki limit se charges 10rs kam karna shuru kiye easypaisa se..jab k zong ne 2500 se he start kardiye 10rs kam..abhi HBL b anay wala hai INSHALLah ummeed hai competition barhega n charges khud kam karenge ye