Pakistan’s leading digital payments platform, Easypaisa held a media briefing session to create awareness on digital payments in Islamabad. The event was one of its kind where app experience was made part of the session. Over time, Easypaisa has evolved into a smartphone app which was introduced with basic money transfer functions with an interactive and easy to use interface. Lately, the platform was revamped with a new look and enhanced features creating one of the most revolutionary products in Pakistan’s digital financial ecosystem.
“We’re the first and largest payments wallet in the country reaching more than 8 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 like Android and iPhone. The platform enables payments like utility bills, mobile top-ups, ticket purchases and a lot more besides.” Said Omar Moeen Malik, Business Head Easypaisa, while addressing the media.
Over the years, Easypaisa has progressed from being a ground-breaking service to send and receive money over long distances within the country in an instant to a comprehensive digital payments solution where users can access a host of financial transactions all from their smartphone. The application can sync directly to a conventional bank account allowing funds to be sent or received between both mediums. Easypaisa also supports secure merchant payments through direct transfers at retailers while also offering cashbacks and other rewards in the process.
Through Easypaisa users can purchase mobile airtime or bundles directly, make payments for over 240 billers including major utility service providers, educational institutions amongst others, make donations to various charities, pay taxes and challans as well as a lot more besides. 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 while at the same time being able to get instant cash of up to PKR 1,000 when needed.
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 PKR 1.5 trillion.
A significant share in Easypaisa was bought by Ant Group in 2019. Ant Group is part of one of the largest conglomerates in the world, the Alibaba Group. The company itself is the only global fintech business valued at over $100 billion today.
With more than 10 million downloads, Easypaisa is amongst the most popular platforms in the country granting simplified financial inclusion to the masses without any complicated procedures. Today, roughly 1 out of every 3 smartphone customers in Pakistan use the Easypaisa App.
Easypaisa added a huge feather to its cap this year by bagging 7 prestigious Effie Awards at the 2021 event.
“We are working towards bringing financial inclusion to every eligible adult across Pakistan through reliable and accessible financial services. We are democratizing financial services while minimizing fraud/illegal activities and encouraging economic growth via increased money circulation”, added Omar Moeen Malik.
Easypaisa envisions adding millions of more users during the next 5 years through financial literacy amongst customers for digital payments vs. cash. We are also working on maximizing touchpoints across Pakistan to improve accessibility, bring state-of-the-art technologies for provision of instant and secure payments, 3rd party integrations to create an engaging ecosystem and bring value for non-Easypaisa customers to maximize penetration.
