Press Releases

28
August 2015

Easypaisa & KEENU launch Easypay NFC Payments at Dolmen Mall and Ocean Mall in Karachi

Karachi – August 27, 2015: Easypaisa,Pakistan’s first and largest branchless banking service and a joint venture between Tameer Microfinance Bank and Telenor Pakistan, has joined hands with KEENU to expand its NFC deployment and enable customers to pay through Easypay NFC.

Easypay NFC is Pakistan’s first NFC Payments Service which enables instant and secure contactless payments. It is a convenient way for customers to pay at retail outlets by simply tapping an Easypay NFC sticker with the retailer’s Point-of-Sale (POS) terminal, and the customer authorizing the transaction with their PIN on their mobile phone. With the PIN, Easypay NFC Payments thus becomes the most secure Payment mechanism in the country.

KEENU is a merchant payments network developed by industry professionals driven by Wemsol Private Limited. KEENU’s electronic payment services are designed to cater to the growing needs of merchants and individuals to safely carry out their payment activities. The point-of-sale devices that KEENU has been deploying at merchant locations across Pakistan enables merchants to process conventional credit/debit cards, as well as NFC-based contactless solutions like Easypay.

Pleased at the collaboration, Nadeem Hussain, CEO Tameer Microfinance Bank said, “The most important step in this mobile payment transaction is the secure element which is tamper-proof and protected by a unique digital PIN. Even if you lose your NFC tag or mobile phone, your money is completely safe, unlike cards. Through Easypay, Easypaisa is enhancing customers’ experience of making payments in a secure and instant way. It is an innovative payment solution for the merchants too as it is cost effective, secure and adaptable.”

Yahya Khan, Chief Financial Services Officer, Telenor Pakistan said, “With convenient, secure and instant payments in place, NFC in Pakistan is truly about to boom. It liberates the customer from the dependence on cash or cards and enables them to make payments through their mobile phones.”

Syed Ejaz Hassan, CEO Wemsol Pvt. Ltd, while sharing his views said, ‘Acceptance of Easypaisa’s NFC instruments payments on the Keenu network will be a milestone in Pakistan’s retail payment space and will reshape the industry significantly. I would like to congratulate both the Easypaisa and Keenu teams who had been working tirelessly to make this possible.’

This partnership between Easypaisa and KEENU is a unique partnership where both parties are bringing their key strengths together to provide limitless value to Easypaisa Mobile Account customers and to merchants. Easypay NFC transactions are instant, incredibly fast, and convenient and secure for both customers and merchants.

Pakistan is finally warming up to digital payments and partnerships like the one between Easypaisa and KEENU will go a long way towards enabling digital payments acceptance across the country.

About Easypaisa

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 15 million active customers. In 2014, Easypaisa moved nearly 2% 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‚Äźfinance 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 164 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 32.15 million subscribers, over 2,400 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 Wemsol Private Limited:

Wemsol Private Limited is an innovative payment and technology service provider for financial and retail sector. Founded in 2011, Wemsol is a fully owned subsidiary of United Mobiles –the leading mobile marketing and Distribution Company in Pakistan. The founding team has years of proven experience in distribution, marketing, banking, telecommunication, software and mobile applications.