While making the mobile payments more easy and affordable, Pakistan’s pioneer mobile banking service, Easypaisa by Telenor Pakistan has collaborated with the Utility Stores Corporation-the largest retail chain in the country. Easypaisa to Digitize the Payment System of Utility Stores Corporation Across Pakistan. According to the MoU signed today, Easypaisa will offer its services to 5,000 Utility Stores across Pakistan.
Easypaisa to Digitize the Payment System of Utility Stores Corporation Across Pakistan
In addition to affordable groceries, people will have access to affordable financial services from these locations.
The 50 million Pakistanis who shop at Utility Stores will now access to convenient, secure and fast financial transactions, while Easypaisa will help digitize Utility Stores for payments, bringing down the servicing cost and increasing the servicing speed.
Both Easypaisa and Utility Stores Corporations with this agreement aims to change the destiny of Pakistan.
This partnership is in line with Telenor Microfinance Bank’s ambition to revolutionize Pakistan’s financial landscape and extend the benefits of mobile money to the under-banked people in the country. USC is a state-owned, largest retail chain store enterprise in Pakistan, providing basic commodities at low rates to the masses. Commencing with 50 stores in Islamabad and Rawalpindi, the project will gradually expand to over 5,000 Utility Stores spread across the country.
Speaking on the occasion, Ali Riaz Chaudhry, President & CEO, Telenor Microfinance Bank said:
“We are the proud pioneers of mobile money with 9.2 million mobile account customers in Pakistan. This alliance is a continuation of our industry-first initiatives. We are delighted to offer further convenience and ease of access for all Easypaisa customers. Going forward, we plan on extending the partnership to include services like Till Payments, G2P Disbursements, Lending/Loan Repayments and Insurance Payments.”
Mobile transactions in Pakistan is currently witnessing a phenomenal growth; reveled by State Bank of Pakistan Report of Q4, 2016. Further this MoU will help the mobile financial sector to grow and become exemplary in the region.