Company:Easypaisa
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| Type | Private |
|---|---|
| Industry | Banking |
| Founded | October 2009 |
| Headquarters | Karachi, Pakistan |
Key people | Jahanzeb Khan (CEO) |
| Products | Digital wallet |
| Website | easypaisa |
Easypaisa Bank Limited, stylized as easypaisa, is a Pakistani digital bank based in Karachi.[1] It provides services such as mobile wallet, mobile payments, and branchless banking.[2][3]
History
Easypaisa was founded in 2009 by Telenor Microfinance Bank as a money transfer service via USSD (Unstructured Supplementary Service Data) channels.[4] Telenor Microfinance Bank was originally founded as Tameer Microfinance Bank, which was acquired by Telenor Pakistan in 2008.[5] Later, in 2018, Ant Group acquired a stake in Telenor Microfinance Bank via its subsidiary Ant Financial.[6] In its early years, Easypaisa followed an over-the-counter (OTC) model, users could transact without maintaining a wallet account. By 2011, around 1.3 million customers had conducted 1.9 million transactions worth US$39.2 million in flows.[7] As of 2012, it had processed over 100 million transactions with throughput exceeding US$1.4 billion.[8]
During the COVID-19 pandemic, digital adoption of financial services increased significantly. By 2020, Easypaisa’s active app user base had grown to around 3.44 million, an increase of approximately 54% compared to the previous year. While its annual transaction value rose by about 64% to reach PKR 1.5 trillion.[9]
By the end of the 2023 financial year, Easypaisa had processed more than 2.1 billion transactions with a total value exceeding PKR 7 trillion. The platform recorded 9.6 million monthly active users, a year-on-year increase of 32%, while its parent company, Telenor Microfinance Bank, reported a user base of over 13 million.[10] In the same period, the service was migrated to a cloud-native platform as part of the bank’s broader digital transformation.
Easypaisa has also played a role in charitable and humanitarian activities. Between June and November 2022, the platform facilitated more than 400,000 donation transactions worth over PKR 100 million, supporting national flood relief efforts.[11]
In January 2023, Easypaisa introduced a debit card service for account holders, issued in collaboration with UnionPay.[12] Two years later, in January 2025, the company received Pakistan’s first digital bank licence from the State Bank of Pakistan and subsequently announced the commencement of commercial operations.[13][14]
See also
References
- ↑ Aurangzeb, Hamza (24 February 2025). "Pakistan's first digital bank is here". https://profit.pakistantoday.com.pk/2025/02/24/pakistans-first-digital-bank-is-here/.
- ↑ "رقم کی منتقلی: دیہاڑی دار طبقے کے لیے 'فن ٹیک' ایک نعمت". 5 November 2020. https://www.independenturdu.com/node/51786.
- ↑ Riaz, Rohama (12 September 2018). "Are e-wallets the future of transaction in Pakistan? It's likely". https://www.dawn.com/news/1432477.
- ↑ Ali, Kalbe (31 May 2021). "Cash wallets are the future of fintech". https://www.dawn.com/news/1626534.
- ↑ "Telenor acquires Tameer Bank". Business Recorder. 18 March 2016. https://www.brecorder.com/2016/03/18/285741/.
- ↑ "Telenor Bank: Chinese group to invest $184.5m". The Express Tribune. 14 March 2018. https://tribune.com.pk/story/1659174/1-telenor-bank-chinese-group-invest-184-5m/.
- ↑ "Telenor's Easypaisa Penetrating Pakistan's Poor, Unbanked …". NextBillion. https://nextbillion.net/telenors-easypaisa/.
- ↑ "Easypaisa: Mobile Money Innovation in Pakistan". GSMA / Telenor. https://www.gsma.com/mobilefordevelopment/wp-content/uploads/2013/07/Telenor-Pakistan.pdf.
- ↑ "Pakistan ready to adopt digital financial solutions on large scale, says easypaisa CEO". The Nation. 6 April 2021. https://www.nation.com.pk/06-Apr-2021/pakistan-ready-to-adopt-digital-financial-solutions-on-large-scale-says-easypaisa-ceo.
- ↑ "Ericsson upgrades TMB's easypaisa to cloud native platform". DevelopingTelecoms. 30 September 2024. https://developingtelecoms.com/telecom-technology/financial-services/17375-ericsson-upgrades-tmb-s-easypaisa-to-cloud-native-platform.html.
- ↑ "Easypaisa: enabling flood relief donation in Pakistan". Ericsson. https://www.ericsson.com/en/cases/2023/easypaisa-and-ericsson.
- ↑ "Easypaisa launches debit card". Dawn. 2023-01-17. https://www.dawn.com/news/1732028.
- ↑ "Easypaisa Bank gets digital bank licence". Dawn. 2025-01-29. https://www.dawn.com/news/1888366.
- ↑ "'easypaisa' announces commercial operations". Business Recorder. 2025-01-29. https://www.brecorder.com/news/40345142.
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