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Telenor Easypaisa ATM Card: Revolution in Branchless Banking

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(Last Updated On: 11/12/2013)

Telenor Easypaisa took a historical step and has officially launched ATM cards for the account holders of Telenor Easypaisa. The historical step has taken branchless banking in Pakistan to a whole new level.

A local English newspaper in Islamabad known as Daily The Nation has said that “After the soft launch of Easypaisa ATM cards earlier this year, Easypaisa has now commercially launched the cards for its mobile account holder.”

It is very easy to get the ATM cards for Easypaisa mobile account holders. They can collect it from Tameer Bank branches or the alternate source is Telenor Service Centres.

Card issuance charges are very nominal and a single ATM card can be issued at Rupees 200 only. Charges of every transaction are Rupees 25. This rate of transaction is higher than conventional banking system but it gives you freedom and mobility so one must keep this in mind.

It is obvious that this new offer will bring down the importance of Easypaisa outlets. People can easily visit nearest 1-link ATM machines all over the country. Those who have Easypaisa outlets near to their home or offices can still keep the Easypaisa outlet owners busy. In addition if the ATM machine is out of order or if someone does not know how to use ATM machine will prefer to visit their nearest Easypaisa outlet.

Head of strategy for Telenor Easypaisa in Pakistan, Omar Moeen Malik said that Pakistan is one of those few countries where a person is privileged to open bank account using his mobile phone and can pick up the ATM card, link it to his account and start carrying out his transactions.

Although Telenor Easypaisa isn’t the first one in Pakistan to start ATM services in branchless banking sector, but in Telecom sector it obviously is the first one to take the initiative. Before Telenor Easypaisa, UBL Omni has already started to offer ATM cards way back in June, 2013.

Reports regarding branchless banking services reveal that the companies behind branchless banking in Pakistan are planning not only to launch ATM cards but they also plan to develop mobile apps for the customers to manage their mobile bank accounts easily and conveniently.

Reports also reveal that half the population of Pakistan lives in rural areas and tremendous growth opportunity thrive in the branchless banking sector and in the near future, it will be one of the most rewarding sectors.

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