Easypaisa, Pakistan’s first and foremost branchless banking service, hosted an ‘experience’ session for its mobile app at its Islamabad office. Renowned journalists from leading print and digital publications attended the event and got their queries about the service answered.
Omar Moeen Malik, Business Head, Easypaisa, Telenor Microfinance Bank Limited, walked the audience through Easypaisa’s journey and its ascent from a basic mobile money transfer service a decade ago to a complete digital payments solution that it has morphed into today.
Providing the journalists with a snapshot of Easypaisa’s performance in the year 2020, Moeen revealed that the number of Easypaisa agents across Pakistan had climbed to an impressive 170,000, while the number of Easypaisa registered wallets had crossed the 25 million mark.
He further revealed that the number of transactions done in 2020 alone was over 800 million, amounting to a staggering PKR 1.5 trillion. Participants were also informed that the Easypaisa had now onboarded over 250 billers for the convenience of its users.
Financial inclusion of the unbanked population, democratization of reliable financial services, and discouragement and minimization of financial frauds and illegal activities have remained at the top of Easypaisa’s agenda, it was learned.
“We take pride in being the largest Pakistani mobile app in any category. And we’re the only app of its kind in Pakistan that offers seamless payments to nearly all utility companies, banks, wallets, merchants, and more to bring convenience to the people’s lives while being telco agnostic,” shared Moeen.
From utility payments to toll tax, from money transfers to other wallets and banks to school fees, and from government payments credit cards and challan payments, Easypaisa offers all and much more, Moeen informed.
It was also highlighted at the event that cash transactions in Pakistan still dominated payments which was not a good sign if the country aimed to reduce the financial inclusion gaps through digitalization. “The only country that uses more cash in everyday transactions than Pakistan in the entire Asian region is Afghanistan; all other countries are moving fast towards digital payments,” Moeen added.
He also highlighted that the support from different government departments for the digitalization of payments was not ideal and could be improved, especially in the backdrop of very steep national digitalization goals. There were some public sector departments, he informed, that had turned down Easypaisa’s onboarding request, which otherwise could have facilitated millions of Pakistanis.
The matter of user privacy and Easypaisa’s relentless focus on the same was also discussed at length. Besides, the participants were also apprised about user facilitation that Easypaisa routinely brings through various discounts, cashbacks, rewards, and different merchant partnerships.
Participants also got a chance to resolve their Easypaisa-related queries on the spot, open new Easypaisa wallets, and biometrically verify their existing accounts at a dedicated kiosk set up on event premises.