Roughly 1 out of every 3 smartphone customers in Pakistan uses the Easypaisa App

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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 annual throughput of PKR 1.5 trillion. A significant share in Easypaisa was bought by ANT Group in 2019. Omer Moeen Malik, Business Head, Easypaisa, shared the insights and some key features of Pakistan’s #1 financial management App in an interactive Easypaisa App Experience Session organized by the Easypaisa in Islamabad. The session was attended by well-known senior journalists and bloggers.

Relevant Read: Easypaisa bags 7 accolades at Effie Awards 2021

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.

While responding to the query during the session Omer 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 customers’ 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.

Easypaisa

Easypaisa, launched in 2009 as a simple peer-to-peer money transfer service where a USSD code was used to transfer payments over long distances. Over time, it evolved into a smartphone app that was introduced with basic money transfer functions with an interactive and easy-to-use interface. In 2019, the platform was revamped with a new look and enhanced features creating one of the most revolutionary products in Pakistan’s digital financial ecosystem.

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 set up 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.

Offers

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 offering cashback 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, 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 cashback. 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’s Success at Effie

Easypaisa added a huge feather to its cap this year by bagging 7 prestigious Effie Awards at the 2021 event. 4 gold awards were won for the ‘Eidipaisa’ campaign in the categories of Seasonal Marketing, Topical Marketing, Marketing Disruptors and Finance categories, a gold and silver award in the Finance category for the ‘Our Every Number is Welcome’ and the ‘Phatta Note’ campaign respectively as well as a bronze award for the ‘Easypaisa Raahi’ series in the Marketing Disruptors category.

Using Easypaisa

Installing and using the application is a fairly simple process that requires the following steps;

  1. Download the Easypaisa app from Google Play Store or Apple’s App Store,
  2. Enter your phone number at the first screen that appears,
  3. Then proceed to enter your CNIC and its date of issue,
  4. Make an initial deposit to your account through any of the available mediums,
  5. You’re good to begin using Easypaisa for a wide range of digital payments

Dos and Don’ts to Operate Mobile Wallet Account Safely

Dos

  • Protect your smartphone with a password, fingerprint or other biometric authentication.
  • Only download financial apps from official sources such as Google Play store or Apple Store.
  • Enable your phone’s security features and keep them updated
  • Regularly have a look at your account statements and immediately report any suspicious activity.

Don’ts

  • Avoid using public WiFi when conducting a mobile wallet transaction
  • Avoid clicking random links in texts or emails
  • Do not share personal details such as bank account, CNIC, OTP/ATM Pin, with anyone
  • Do not trust SMS or Calls, regardless of which number they come in from,

Prospects and vision for the future

Easypaisa working towards bringing financial inclusion to every eligible adult across Pakistan through reliable and accessible financial services. Easypaisa is democratizing financial services while minimizing fraud/illegal activities and encouraging economic growth via increased money circulation.

Easypaisa envisions adding millions of more users during the next 5 years through financial literacy amongst customers for digital payments vs. cash. The App also working on maximizing touchpoints across Pakistan to improve accessibility, bring state-of-the-art technologies for the provision of instant and secure payments, 3rd party integrations to create an engaging ecosystem and bring value for non- Easypaisa customers to maximize penetration.

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