Telenor Easypaisa won Wall Street Journal’s Financial Inclusion Challenge today. The Wall Street Journal is one of America’s most ornamented financial publications that currently spread all over the world. Many companies have been invited from all over the world to participate in this challenge. Both profit and non-profit organizations were invited in the challenge.
Telenor Easypaisa Wins Wall Street Journal’s Financial Inclusion Challenge under the category of People’s Choice
The main objective of that challenge was to find out best solutions of financial access problems faced by the poor. Telenor Pakistan’s Easypaisa was also nominated and was among the 6 finalists for the Wall Street’s Financial Inclusion Challenge.
All the participants are required to bring a video that showed the solutions of financial access for the poor proposed by the company. All the entries of this challenge were divided into following categories with their respective winners.
- Technology: F-Road, Shanghai-Based Initiative, which makes the mobile banking accessible in rural areas of China.
- Education: Going to School, it is a NGO of India which teaches poor children through books and moving pictures.
- Operational effectiveness: Kiva, it is one of the first crowd funding platforms in the world.
- People’s Choice: Telenor Pakistan EasyPasia, it is a mobile banking service.
Vipin Sharma, one of the of judge of Financial Inclusion Challenge, said,[pull_quote_center]The company has a sustainable and scalable model that allows it to offer a wide variety of products. [/pull_quote_center]
EasyPaisa is a mobile banking service launched in 2009 with the collaboration of Tameer icro Finance Bank. Now it has more than 60,000 retail outlets across the Pakistan. Moreover it also offers health insurance and many other financial services to about six million people.
EasyPaisa is available to all mobile owners of Pakistan because only the 15 % population of Pakistan has bank account while over 70 % population has mobile phones.