Historical move of Branchless Banking in Pakistan: Telenor’s EasyPaisa launched ATM card

Historical move of Branchless Banking in Pakistan: Telenor’s EasyPaisa launched ATM card | PakistanTribeISLAMABAD – Branchless banking takes another historical move as Telenor’s Easypaisa officially launched the ATM Card for its account holders.

According to the local English Daily The Nation “after the soft launch of Easypaisa ATM cards earlier this year, Easypaisa has now commercially launched the card for its mobile account holders”.

Now every Easypaisa Mobile Account holders can get their ATM cards from Telenor Service Centres or from Tameer Bank branches.

Card Issuance charges are set at Rs. 200 per ATM card, while transaction charges are Rs. 25 per transaction which is higher than conventional banks charges.

The new offer can reduce the importance of Easypaisa outlets and now with ATM cards, Easypaisa mobile account holders will be able to withdraw the cash through any 1-link ATM machines across Pakistan.

Omar Moeen Malik, Head of Strategy for Easypaisa, Telenor Pakistan was quoted as saying that Pakistan is now one of the very few countries in the world, where any person with a CNIC can open a free bank account on his Mobile Phone in under two minutes, pick up an ATM card and link it to his account easily.

Tough Telenor’s Easypaisa isn’t first mover to launch the ATM as UBL Omni already offers ATM cards from June this year (2013) to its customers but in the category of Telecom its first the only yet.

According to the reports other branchless banking services are also planning to launch ATM cards and mobile apps for their customers to manage their mobile accounts.

Pakistan where more than half of population lives in the rural areas has tremendous growth opportunity for person to person branchless banking.

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