The launch of Mobile Banking in Pakistan marks the beginning of another strong Alternate Delivery Channel for the Pakistani e-Banking industry. While several banks already have splendid endeavors in place to support branch-less and round-the-clock banking, the use of Mobile payments will definitely take the advantages of regularized financial institutions to the mass majority in Pakistan who do not even have bank account.

While State Bank of Pakistan has continued to place emphasis on Financial Institutions and Telecom operators to form viable partnerships so as to introduce banking services to financially excluded communities, the initiative has come forth with Tameer Microfinance Bank and Telenor Pakistan’s easypaisa. The brand, based on bank-led model, aims to offer a suite of products including micro payments to merchants, P2P transfers between individuals, bill payments to utility companies and domestic remittances. . While easypaisa has launched bill payment and money transfer, its initial two over the counter products to cater to the basic financial needs of the population; the potential for increased financial access and service penetration has life changing prospects with mobile products that are yet to come. More >