Press Releases

January 1970

Easypaisa launches Funds Transfer Facility to/from Banks across Pakistan

Pakistan's first and largest branchless banking service and a joint venture of Telenor Pakistan and Tameer Microfinance Bank, Easypaisa, has become the first mobile money service in Pakistan to become interoperable with the existing banking infrastructure by launchingtheInter Bank Fund Transfer (IBFT)serviceenabling its customersto transfer funds between a number of Banks via the 1-link switch.

Easypaisa brings this revolutionary, first of its kind innovative service to both its Mobile Account holders and Over-the-Counter (OTC) customers. Easypaisa Mobile Account holders can now move funds from any Bank Account into their Easypaisa Mobile Account and vice versa conveniently and securely, thus overcoming one of the hurdles of getting funds into the branchless banking systems. Once the funds are in the Easypaisa Mobile Account, customers can proceed to use the most convenient and secure bill payment, money transfer or airtime recharge service in the country through the Easypaisa Mobile Account on their mobile phone.

For the OTC service, any customer can walk into any of the Easypaisa shops and deposit cash directly into any Bank Account. With 40,000 Easypaisa shops in more than 750 cities and nearly 6 million unique customers using Easypaisa services each month, banked customers can deposit cash into their Bank Accounts without having to go into their Bank Branches. Customers will only need to approach an Easypaisa shop, provide their CNIC and theirbank account number to use this service.This Cash Deposit facility will be available at Easypaisa shops while they are open, often late into the night and even on weekends.
It is great step in the Branchless Banking industry, a revolutionary development which will act as a catalyst for the robust growth of the branchless banking industry in Pakistan, said Nadeem Hussain, President and CEO of Tameer Micro Finance Bank. Easypaisa now connects the unbanked directly to the banking infrastructure by enabling them to send and receive money on their Mobile Accounts and through OTC services. Almost 80% of the population in this country is still unbanked and Easypaisa is working day and night to achieve financial inclusion of the unbanked people of Pakistan. In line with this ambition, Easypaisa's IBFT service provides a platform to the unbanked class to connect with the traditional banking infrastructure, which is likely to boost the mobile banking culture in the country.
Expressing his view regarding this new service, Yahya Khan, Chief Financial Services Officer, at Telenor Pakistansaid, We am extremely proud of being the first branchless banking service in Pakistan to move towards Interoperability and connect to the 1-Link switch for fund transfers. All the current closed-loop mobile money services in Pakistan have to strive and move towards open-loop systems where customers can move funds between bank accounts and branchless banking accounts and vice versa. The opening up of Easypaisa agents for Cash Deposit into other Banks is similarly a unique service we're introducing to meet an unserved need out there. We believe that Banks and Branchless Banking services complement each other in Pakistan and can work in harmony to serve everybody in Pakistan.

About Easypaisa
Pakistan's first and largest branchless banking solution, Easypaisa, was launched jointly by Telenor Pakistan and Tameer Micro Finance Bank in 2009. Easypaisa has the largest financial footprint in Pakistan with over 40,000 Easypaisa shops in more than 750 cities across the country. Nearly 380,000 transactions take place through Easypaisa platforms every day and nearly 6 Million unique customers use Easypaisa services every month. 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, Easypaisa won two GSMA Awards for Best Mobile Money Service in the world and Best Mobile Service for Women in Emerging Markets at the Mobile World Congress, Barcelona, Spain. For more information, please visit:

About Tameer Microfinance Bank Limited (TMFB):
Tameer Microfinance Bank Limited (TMFB) is the first scheduled and largest Micro Finance Bank in Pakistan and incorporated in 2005 to provide 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. The Bank currently has outreach of over 125 Tameer customer touch points.
The range of financial services offered by TMFB includes Deposits, Loans, Mobile Accounts, Health Insurance, Alternative Energy Solution, Remittances, cash management services, delivery through Bank on Wheels, Agricultural and Dairy Financing. PARC upgraded the long term entity of Tameer to A + (Single A plus) while maintaining the short term rating at A1 (A One) as of February 27, 2014.

About Telenor Pakistan
Telenor Pakistan is a provider of high quality telecommunication services in Pakistan since 2005. It has 35 million subscribers, over 2800 employees and a nationwide network covering more than 8,000 cities. It 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.

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