Tameer Microfinance Bank and Telenor Pakistan have announced launch of Money Transfer, the second in a suite of products being offered under easypaisa. Money Transfer is a secure, easy and convenient way of sending and receiving domestic remittances through easypaisa retail outlets.
Users will have the convenience to access the service from more than 4,000 easypaisa merchants, a figure expected to reach 20,000 by the end of year 2010.
CEO Tameer Microfinance Bank, Nadeem Hussain considers domestic remittances a key point in providing financial access to the rural population "Remittance flow plays a valuable role in supporting the economy. It also offers significant potential to support income of poor and vulnerable groups. Remittances are often the first and sometimes the only financial service used in low income households. Hence the potential for an accessible banking agent in remote areas of the country is immense', he said.
At the launch of Money Transfer, CEO Telenor Pakistan Jon Eddy Abdullah said, "Providing Money Transfer service is the next step in the development of easypaisa as a unique banking solution World Bank estimates the domestic transfer volume in Pakistan to be at $6.95 billion per year. -PR