Easypaisa to part ways with Telenor Pakistan

Monday, March 13, 2017

Telenor Pakistan launched Easypaisa in 2009 with the approval of the State Bank of Pakistan. ProPakistani reported that Easypaisa, which is Telenor Pakistan’s Mobile Financial Services Division, will be transferred to Tameer Microfinance Bank. Telenor Group wholly acquired Tameer Bank last year. At that time, it was announced that Telenor Pakistan will transfer the management of Easypaisa to Tameer.

After the transfer, Easypaisa’s balance sheets will be visible under Tameer Bank and not Telenor Pakistan. Also, Easypaisa’s reporting and day to day operations will be managed by Tameer Bank and not Telenor Pakistan. Once the process is completed, Easypaisa will have its own digital agency, PR agency and all sorts of vendors that it may need for running the day to day operations.

Easypaisa staff may keep using Telenor Pakistan’s office space in some cities but Telenor Pakistan will charge Easypaisa for such services. It is also rumored that name of Tameer Bank will be changed to Telenor Bank once the transaction is done. Easypaisa is Pakistan’s first branchless banking solution and world’s third largest branchless banking service. It provides mobile banking, secure payments, money transfer and more.

Source: Tech Juice (link opens in a new window)

financial inclusion, microfinance