Easypaisa introduces first ever Money Transfer facility through Biometric Verification Devices

ISLAMABAD – July 28, 2016: Easypaisa, Pakistan’s leading Mobile Financial Service provider, has introduced the first ever Biometric Money Transfer facility on the extensive network of Easypaisa retailers across Pakistan.

Customers using Mobile Financial Services had frequently requested for higher limits that catered to their financial needs. Before the launch of biometric money transfer service, customers could send or receive up to PKR 15,000 in a month from Easypaisa retailers. Now, using biometric services, customers can avail advanced limits of up to PKR 50,000 and transfer higher amounts. Customers who are not comfortable with sharing their CNIC copies, and thus do not use Mobile Financial Services, will now be able to trust and use the services easily.

With the addition of thumbprint, Easypaisa retailers ensure that the customer’s CNIC is neither expired nor blocked by the government. Currently, more than 20,000 Easypaisa retailers are equipped and trained to facilitate its customers with biometric verification to transfer and receive funds, with more retailers being rapidly added.

Ali Riaz Chaudhry, President and CEO of Tameer Bank, said, “With a network of over 75,000 retailers across rural and urban areas, Easypaisa has been the most popular and successful over-the-counter (OTC) money transfer service crossing 650,000 transactions per day.  Introducing biometric methods of identification further enhances transparency, safety and ease of the transactio

Muhammad Yahya Khan, Head of Easypaisa, said, “With Biometric verification as the strongest KYC available anywhere in the world, Easypaisa is ensuring real-time verification of the customers and using latest technology to support our valued customers. Easypaisa’s higher money transfer limits will address growing segment of the market who want to send higher amounts hence increase customer’s reach and trust, helping in tapping the true potential of branchless banking industry in Pakistan.”

About Easypaisa

Pakistan’s first and largest branchless banking solution, Easypaisa, was launched jointly by Tameer Micro Finance Bank and Telenor Pakistan in 2009. Easypaisa has the largest financial footprint in Pakistan with over 75,000 Easypaisa shops in more than 800 cities across the country. Nearly 650,000 transactions are conducted on Easypaisa every day by 20 million active customers. In 2015, Easypaisa moved nearly 3% of Pakistan’s GDP. Easypaisa has the largest product portfolio of services for its customers including remittances, payments, savings and insurance and offers ATM cards and IBFT services that work with all banks connected through 1-Link in Pakistan. In February 2014, out of more than 250 Mobile Money services around the world, Easypaisa was awarded two GSMA Awards, including the “Best Mobile Money Service in the World” at the Mobile World Congress, Barcelona, Spain.

For more information, visit:  http://www.easypaisa.com.pk

About Tameer Microfinance Bank Limited

Tameer Microfinance Bank Limited (TMFB) is the first scheduled and largest Microfinance Bank in Pakistan and a part of Telenor group. Incorporated in 2005, it provides micro‐finance, branchless banking and related financial services targeted to the underserved segment. In 2009, it jointly launched Easypaisa with Telenor Pakistan.  Tameer Bank currently has 176 customer touch points and over 75,000 agents nationwide; and offers a wide range of financial services including Deposits, Loans, Mobile Accounts, Peer to Peer money transfers, Health Insurance, Remittances, Cash management services, Bank on Wheels. The credit rating company JCR-VIS has reaffirmed the entity rating of Tameer at “A+/A-1”. Outlook on the assigned rating is ‘Stable’ as of April 28th, 2016.

For more information, please visit: http://www.tameerbank.com

About Telenor Pakistan

Telenor Pakistan is a provider of high quality telecommunication services in Pakistan since 2005. It has over 37 million subscribers, over 3,000 employees and a nationwide network. For more information, please visit: www.telenor.com.pk