NEWS & EVENTS
Easypay now offers Credit and Debit card processing to E-Commerce Merchants
Easypay, Pakistan’s first comprehensive online payment solution has partnered with MCB Bank to enable its online merchants to increase their sales and enhance the consumer experiences with the help of MasterCard Payment Gateway Services. MasterCard’s payment gateway is a simple, safe and smart way for merchants to reach audiences beyond their borders by processing Visa and MasterCard transactions for online merchants. This is the third payment method that Easypay has added, after payments through Easypaisa Mobile Accounts and token payments at any Easypaisa shop.
With this new platform, Easypay can now manage all online, multi-branded, credit and debit card transactions on behalf of its clients and Easypay is now able to serve every segment of the Pakistani market for their Online Payment needs. Consumers with a Credit or Debit card, or any of the 9 million Easypaisa Mobile Account holders, can purchase directly from partner e-commerce merchants powered by Easypay. Consumers without a credit, debit card, or Easypaisa Mobile Account, can also make online purchases by generating an Easypay token that can be paid at any of the 70,000 Easypaisa shops across the country.
Easypay is committed to providing secure and convenient online payment transactions. In the interest of customer security, Easypay provides a secure payment page, which processes payment data without requiring the merchant to handle or store sensitive bank card details. Customers can now process payments securely through any locally or internationally issued payment card, regardless of the brand.
Last November, Easypay partnered with Daraz.pk, Pakistan’s largest E-commerce store, for their Black Friday sales event which was a resounding success. In addition to Daraz.pk, Easypay is also powering online payments for other E-commerce merchants like homeshopping.pk, jovago.com, pakwheels.com, bookme.pk, onlinebazaar.pk and dealtoday.pk, etc.
Pleased at the collaboration with MCB Bank and MasterCard, Nadeem Hussain, Founder, President and CEO Tameer Microfinance Bank said: “This collaboration is a significant step up towards directly contributing to the economic development of Pakistan by providing a secure and customized solution for online trade. E-commerce will ideally favor the women entrepreneurs in Pakistan; working from home and supporting their families. Through Easypay Online Payments, Easypaisa will be enhancing customers’ experience and bridging gaps in the industry.”
Yahya Khan, Chief Financial Services Officer, Telenor Pakistan said: “Many E-commerce merchants have already signed up with us, with dozens more in the integration process offering exciting discounts for the customers on choosing Easypay as a mode of payment online. We are very happy to have MCB Bank as our partner in enabling the credit/debit card processing functionality. Partnering with MasterCard and using its Payment Gateway Services – an industry leading, global payment platform is a significant step towards customer ease. With convenient, secure and instant payments in place, Pakistan’s e-commerce industry is truly about to reach critical mass.”
“The Collaboration between MCB Bank and Easypaisa is a great achievement. The digital payment industry is gearing up and arrangements like Payment Facilitator (PF) will go a long way towards revolutionizing & redefining not only the industry landscape but the entire payment ecosystem,” said Mr. Imran Maqbool, President of MCB Bank.
Aurangzaib Khan, Country Manager–Pakistan and Afghanistan, MasterCard commented: “We are delighted to announce the agreement with MCB Bank and Easypaisa as we continue to drive the evolution of payments in Pakistan. MasterCard’s payment gateway helps business owners expand their reach by easily taking their businesses online and accepting online payments simply, safely and securely.”
Pakistan’s first and largest branchless banking solution, Easypaisa, was launched jointly by Tameer Micro Finance Bank and Telenor Pakistan in 2009. Easypaisa has the largest financial footprint in Pakistan with over 70,000 Easypaisa shops in more than 800 cities across the country. Nearly 650,000 transactions are conducted on Easypaisa every day by 20 million active customers. In 2015, Easypaisa moved nearly 3% of Pakistan’s GDP. Easypaisa has the largest product portfolio of services for its customers including remittances, payments, savings and insurance and offers ATM cards and IBFT services that work with all banks connected through 1-Link in Pakistan. In February 2014, out of more than 250 Mobile Money services around the world, Easypaisa was awarded two GSMA Awards, including the “Best Mobile Money Service in the World” at the Mobile World Congress, Barcelona, Spain. For more information, please visit: http://www.easypaisa.com.pk
About Tameer Microfinance Bank Limited
Tameer Microfinance Bank Limited (TMFB) is the first scheduled and largest Microfinance Bank in Pakistan. Incorporated in 2005, it provides micro‐finance and related financial services to the less privileged and unbanked segment of the society with an aim to contribute towards poverty eradication under the Microfinance Institution ordinance, 2001. TMFB currently has 170 customer touch point’s nationwide offering a range of financial services including Deposits, Loans, Mobile Accounts, Health Insurance, Remittances, Cash management services, Bank on Wheels. . Based on the results for the year ended 31 December 2014, JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the entity ratings of Tameer Microfinance Bank Limited (TMBL) at ‘A+/A-1’ (Single A Plus/A-One). Outlook on the assigned rating is ‘Stable’ as of April 17, 2015. For more information, please visit: http://www.tameerbank.com
About Telenor Pakistan
Telenor Pakistan is a provider of high quality telecommunication services in Pakistan since 2005. It has over 34 million subscribers, over 3,000 employees and a nationwide network. Telenor also holds a majority share in Tameer Micro Finance Bank Limited. Telenor Pakistan is 100% owned by Telenor ASA and adds on to operations in Asia. For more information, please visit: http://www.telenor.com.pk
About MCB Bank Limited Pakistan
MCB Bank Limited and Easypaisa (A joint venture between Telenor Pakistan and Tameer Microfinance Bank Limited) have joined hands for the growth & expansion of Pakistani E-Commerce Industry. Both the organizations have inked an agreement for the implementation of a Merchant Aggregation Business Model and have partnered to offer Online Payments Facility to online retailers. MCB Bank Limited is one of the top banks in Pakistan with a vast network of 1236 branches and 1074 ATMs. The Bank is listed on Pakistan Stock Exchange as well as London Stock Exchange for GDRs. MCB Bank provides state of the art banking products and services to a customer base of approximately 5 million. The Bank currently carries entity risk rating of AAA (long term) and A1+ (short term) which is the highest category rating by Pakistan Credit Rating Agency (PACRA).
MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardMEA and @MasterCardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau
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