The pioneer in the financial services in Pakistan, Telenor Easypaisa nominated for Wall Street Journal’s Financial Inclusion Challenge finalist’s. The Wall Street Journal invited nonprofit and for-profit organization from all over the world to participate in the challenge. Financial institutions were obliged to present a short video of their services which showcased their solutions for a way out to overcome the issues of financial access for poor people. The competition was focused on the Asia Pacific region.
Easypaisa, the largest branchless banking service in Pakistan offers the most convenient access to financial services for all Pakistanis. In 2009, Telenor Pakistan partnered with Tameer Micro Finance Bank to introduce branchless banking for the first time in Pakistan. Easypaisa is not just limited to Telenor subscribers; it’s available for all mobile phone users with more than 60,000 retail outlets across Pakistan. With Easypaisa, customers have access to the easiest way to conduct their financial transactions like:
- Paying Utility Bills
- Sending/Receiving Money within Pakistan
- Receiving money from abroad
- Purchasing airtime (easyload) for their mobile phones
- Giving donations
A free board of judges evaluated these financial services solutions in view of whether they have had a significant effect on financial related consideration in Asia-Pacific. The winners of this challenge will be chosen in three categories: technology, education and operational effectiveness. Aside from that, there will be a general winner and additionally a People’s Choice Winner.
Among the six selected participants other participants includes:
Shanghai F-road Commercial Services: Helps banks provide customers with mobile banking services through secured smart chips called SIM-overlay cards. This service works on more than 95% of phones in the market making mobile banking more accessible to China’s remote rural regions.
Kiva: It is a nonprofit organization with a mission to ease poverty and expand economic opportunity and one of the world’s first crowd funding platforms for microfinance.
BRAC: A rural development organization from Bangladesh operates in 10 countries in Asia, Africa and the Caribbean.
Ekphatthana Microfinance Institution: This microfinance institution connects with children in countryside Laos to teach them finance.
Going to School: This organization puts stock in storytelling that conveys financial knowledge and information to Indian children.
Support the one and only Pakistani finalist to win the People’s Choice Award by casting your valuable vote on the official website of Wall Street Journal’s. The last date for casting your vote is 26th of June 2015.