business-schoolWhen I predicted the rise of mobile banking in Pakistan a few months back, I could see it happening while many of my readers remained uncertain about how the users would react to it. I will dedicate the next month on this blog to introduce you to mobile banking concepts. For now, as an introduction and recap, let me put forth a few estimated numbers for Pakistan:

  • 25 Million bank accounts
  • Approximately 6 million card holders (mostly debit/ATM cards)
  • Approximately 4500 ATMs
  • Over 90 million PTA reported mobile phone subscribers
  • Actual number of mobile subscribers safely estimated to be above 60 million

Do I need to say any more? Thus the Telenor venture appropriately named ‘EasyPaisa’. Thus the soft-launch of Ufone’s mobile banking initiative with HBL (initially). Anybody who understands the potential is gearing up to introduce easy to use financial services for mobile subscribers in Pakistan.

We’ll discuss this more with time. Have a great day!