KARACHI – Telenor Microfinance Bank, Pakistan’s leading microfinance institution, along with its premier mobile banking platform Easypaisa has been empowering the lives of Pakistani citizens and leading the digital revolution by providing convenient payment solutions to users even during these challenging times.

Easypaisa – Pakistan’s first mobile-based branchless banking service – gives complete convenience and empowerment to its customers. Their services include liable over-the-counter transactions, mobile banking as well as domestic and international remittances. Along with this, customers can also give donations, pay bills, and purchase airtime without the hassle of traveling long distances or waiting in queues.

Also Read: Digital Payments going strong in Pakistan

Pakistan is going through a perplexing time with the COVID-19 pandemic while the Bank has been playing an active role in providing diverse financial solutions to the masses by promoting the use of digital banking on a large scale. As a result of its efforts, Easypaisa has witnessed a 35% increase in new activations. Old customers using the service again have gone up by 25% as well. The number of daily transactions from the Easypaisa application has grown by 17% since the lockdown. There has also been an increase of 184% in bank transfers and around 15% growth in airtime and bundle subscriptions in overall transactions.

Collaborations with numerous organizations such as Zakat and Ushr Department of Government of Punjab, Pakistan Bait-ul-Mal, and other poverty alleviation programs have also been made possible with an aim to develop a cashless society for a digitally inclusive Pakistan.

At the same time, the service has joined hands with leading organizations to initiate direct digital payments minimizing the role of cash in the economy and also in the potential spread of Coronavirus.

Simultaneously, QR payments have been introduced at numerous retail outlets to allow contactless shopping experiences that help ensure the health and safety of all those who are out for their necessary chores. Telenor Microfinance Bank along with Telenor Pakistan has also pledged PKR 1.6 billion, in cash and kind, towards COVID-19 relief efforts.

The Easypaisa app has also introduced a host of new and innovative features such as live Corona updates, health service, and other features that greatly benefit users. These options together with the ability to transfer money, receive international remittances, purchase airtime or data bundles, make bill payments, and donating to various charity initiatives have enabled users to continue their daily lives despite strict lockdowns across the country.

Author

Amin Lalani is a subject matter specialist in Internet Retailer with several articles and research paper published so far. He has done M.Phil from IoBM in Marketing with emphasis on Internet Retailing. Besides academia he has various other certification like SAP, Google Analytic, Microsoft Small Business Solution Provider and more.

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