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Easypaisa

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Easypaisa
Company typePrivate
IndustryMobile financial services
Founded2009; 15 years ago (2009)[1]
HeadquartersKarachi, Pakistan
Key people
Omar Moeen Malik (CEO)
ProductsMobile payments/Digital wallet
ParentTelenor Microfinance Bank
Websitewww.easypaisa.com.pk
The picture shows an EasyPaisa debit card powered by UnionPay. The card number and name are usually at the front.

Easypaisa is a Pakistani mobile wallet, mobile payments and branchless banking services provider.[2][3] It was founded in October 2009 by Telenor Pakistan.[4] It also provides digital payment services through a QR code in partnership with Masterpass and it is the only GSMA mobile money certified service in Pakistan.[5]  

Easypaisa was initially launched as a money transfer service through Unstructured Supplementary Service Data (USSD) channels. In 2016, Easypaisa mobile app was launched to carry out a host of financial transactions other than money transfers. [6]

Easypaisa is the branchless banking service of Telenor Microfinance Bank which is jointly owned by Telenor Group, one of the world’s largest telecommunications company across the Nordics and Asia with 186 million customers, and Ant Group, an affiliate company of Alibaba Group and the operator of the world's leading open digital lifestyle platform, Alipay.

On January 17, 2023, Easypaisa launched the debit card.[7]

History

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In 2006, Nadeem Hussain and Ali Abbas Sikander founded Tameer Microfinance Bank, and later on, Telenor Pakistan acquired this microfinance bank and named it Telenor Microfinance Bank. In 2009 Telenor Microfinance Bank decided to launch the Digital Wallet Money Saver Account service and launched EasyPaisa Services. EasyPaisa Service is the rapidly used service in Pakistan that made Telenor Microfinance Bank the top #1 Pakistani Microfinance bank because all EasyPaisa transactions are proceeding through Telenor Microfinance Bank.

Currently, it has 9 million monthly active users, a growth of 28 percent compared to 2019.[8]

The current CEO of EasyPaisa is Jahanzeb Khan.[9]

See also

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References

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  1. ^ Shaikh, Ayesha (26 June 2018). "Making Telenor Bank the change agent for microfinance and e-commerce". Aurora Magazine.
  2. ^ "رقم کی منتقلی: دیہاڑی دار طبقے کے لیے 'فن ٹیک' ایک نعمت". Independent Urdu. November 5, 2020.
  3. ^ Riaz, Rohama (September 12, 2018). "Are e-wallets the future of transaction in Pakistan? It's likely". DAWN.COM.
  4. ^ "Tameer Microfinance Bank rebranded to 'Telenor Bank'". TechJuice. 2017-03-27. Retrieved 2020-11-09.
  5. ^ "GSMA launches Global Mobile Money Certification - Pakistan's Easypaisa among first certified providers". Tech Prolonged. 2018-04-12. Retrieved 2020-11-09.
  6. ^ Yawar, Samir (23 May 2016). "EasyPaisa Launches App to Completely Manage Your Mobile Wallet Account". Retrieved 2020-11-09.
  7. ^ Reporter, The Newspaper's Staff (2023-01-17). "Easypaisa launches debit card". DAWN.COM. Retrieved 2023-01-17.
  8. ^ Ali, Kalbe (May 31, 2021). "Cash wallets are the future of fintech". DAWN.COM.
  9. ^ https://www.linkedin.com/in/khanjahanzeb/ [bare URL]
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