Karachi: Telenor and Tameer Bank service, Easypaisa, has won the confidence of thousands of people living across the country and abroad utilized the branchless banking services transferring Rs 178 billion against 83 million transactions in the past three years.
Easypaisa launched in October 15,2009 has been used for different transactional services including utility bills payment, home and international remittances, saving accounts, pension withdrawal, donations to charitable organizations and multiple services.
On the occasion of easypaisa’s 3rd launch anniversary, Tameer Microfinance Bank and Telenor Pakistan are announcing the launch of a new product called easypaisa Khushaal to provide financial cushioning to easypaisa customers and their families. A ceremony was organized here in Karachi to announce the launch and Kazi Abdul Muktadir, Deputy Governor, State Bank of Pakistan was the chief guest on the occasion.
As the volume of overall money transaction has been increased, the number of regular and trusted customers have been seen on the rise showing the growth of branchless banking system in the country that is not only attracting more customers day by day but also paved the way for different telecom operators and bank to be a part of the financial industry.
Telenor and Tameer Bank are pioneers to introduce the system in the country with support of State Bank of Pakistan and UKAid that gained reputation at local and international level as the service was shortlisted twice in GSMA Awards.
- There are 20,000 number of agents working in 750 different cities across the country.
- More than Rs 95.7 billion has been transacted as home remittances through Easypaisa service.
- The international remittances received by Pakistan via Easypaisa exceeded to Rs 4.3 billion.
- The number of mobile accounts increased to 1.1 million on Easypaisa service.
- Approximately 60,000 bills of different utility services are paid every day via this service.
Pakistan is one of the countries witnessing boom in branchless banking as its being declared as leader by different global agency due to its popularity and growth.
Easypaisa Khushaal:
Easypaisa Khushaal is a new savings product offering free life and accidental death insurance along with an attractive lucky draw prizes for its subscribers. easypaisa has partnered with Adamjee Life Insurance for insurance coverage. By subscribing to easypaisa Khushaal and maintaining a monthly average balance of Rs. 2,000 in their easypaisa Mobile Accounts, customers will be covered for life and accidental death insurance absolutely free. The insurance provided through easypaisa Khushaal is unique in the fact that it provides protection against the risks of riots and terrorism as well. The amount of insurance coverage is tied directly to subscriber’s Mobile Account balance and the insurance provides coverage of up to Rs. 500,000 in case of natural death and Rs. 1 million in the case of accidental death, with an additional benefit of Rs. 5,000 per month for five years in both cases. The higher the balance in a customer’s mobile account, the higher the insurance coverage will be.
Event’s Proceedings:
Speaking on the occasion Nadeem Hussain, President and CEO of Tameer Microfinance Bank said, “At the moment almost 89% of the Pakistanis are unbanked. The savings to GDP ratio is in single digits. The principal reason behind this is the difficulty in opening a bank account, the opening balance, minimum balance requirement and the banking industry’s banking hours. The easypaisa Khushaal account not only addresses these challenges but provides additional benefits. By materially reducing the barrier to entry we expect to change how Pakistanis save. The launch of easypaisa Khushaal is another step towards the financial inclusion of Pakistanis. We hope this initiative will bring a valuable difference in the lives of the people of Pakistan.”
During his address to the ceremony Roar Bjærum, Chief Financial Services Officer at Telenor Pakistan said,” I would like to start off by congratulating our customers on 3 successful years of easypaisa. With easypaisa Khushaal, a major stride forward has been taken by bringing the financial security right at its customer’s doorstep. We at easypaisa are committed to making the lives of our customers easier and we are confident that with easypaisa Khushaal, we move forward to honoring our commitment with our customers.”
Easypaisa Khushaal subscribers will also have the opportunity to win exciting rewards including a brand new Honda City car through a quarterly lucky draw besides the benefits of savings and insurance. The higher the balance in a customer’s Mobile Account, the higher will be his/her chances of winning in the lucky draw. Existing easypaisa Mobile Account customers can subscribe to easypaisa Khushaal by dialing the Telenor helpline 345 from their mobile phones or by visiting their nearest Telenor Sales and Service Center or Franchise or Tameer Bank Branch.
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