‘Easypaisa democratising financial services, minimising fraud/illegal activities’

ISLAMABAD: Easypaisa is democratising financial services, while minimising fraud/illegal activities and encouraging economic growth via increased money circulation. This was stated by Omer Moeen Malik, business head, Easypaisa, while sharing the key features of the financial management app in an interactive Easypaisa app experience session organised by the Easypaisa, here on Wednesday.

He said that Easypaisa is helping in documenting financial services and curbing money laundering and terror financing.

Malik said over the years, Easypaisa has grown to include 170,000+ registered agents across the country with more than 25 million registered wallets.

In 2020, the number of transactions from the platform exceeded 800 million amounting to an annual throughput of Rs1.5 trillion.

He further said with more than 10 million downloads, Easypaisa is among the most popular platforms in the country granting simplified financial inclusion to the masses without any complicated procedures.

Today, roughly one out of every three smartphone customers in Pakistan uses the Easypaisa App.

While responding to the query, Malik said, “The platform has also innovated customer support adding Whatsapp chat in addition to In-App live chats with service representatives 24/7”.

Responding to the query of non-availability of the service on different platforms, Omer said, “All financial services must be open for all banks.”

Easypaisa is one of Pakistan’s most secure mobile wallets protected with state-of-the-art encryption.

The customer’s personal details remain confidential at all times enabling safe and hassle-free payments with guaranteed peace of mind. The app is protected with face ID, fingerprint recognition, number detection, OCR and geo-fencing to make customer experiences as seamless as possible, he added.

Malik said the first and largest payments wallet in the country reaching more than eight million active users today. Being telco agnostic, anybody, no matter what SIM they have, can download and setup the Easypaisa App. The application is available to download on all major smartphone operating systems such as Android and iPhone. The platform enables payments such as utility bills, mobile top-ups, ticket purchases and a lot more.

Through Easypaisa users can purchase mobile airtime or bundles directly, make payments for over 240 billers including major utility service providers, educational institutions among others, make donations to various charities, pay taxes and challans as well as a lot more.

Easypaisa also brings exclusive discounts on thousands of stores and the opportunity for existing customers to invite and earn cashbacks. Customers can also top up other wallets like Daraz or buy Careem vouchers.

He further said Easypaisa working towards bringing financial inclusion to every eligible adult across Pakistan through reliable and accessible financial services. Easypaisa envisions adding millions of more users during the next five years through financial literacy among customers for digital payments vs cash.

The App also working on maximising touch points across Pakistan to improve accessibility, bring state-of-the-art technologies for provision of instant and secure payments, third party integrations to create an engaging ecosystem and bring value for non-Easypaisa customers to maximise penetration, he added.

Copyright Business Recorder, 2021