Telenor Microfinance Bank Partners with Careem

Telenor Microfinance Bank, has entered into a partnership with Careem Pakistan under which disbursal of payments to their Captains will be carried out through the Bank’s branchless banking platform – Easypaisa.

Careem is set to utilize Easypaisa’s extensive network of over 75,000 agents nationwide to ensure smooth and transparent disbursement of payments to its Captains. Through this partnership, the Bank will provide Careem with a single and secure financial platform for efficient disbursement of performance based bonuses and commissions as well as other payments to its captains. This will enable Careem to cater to captains who do not use formal financial services and prefer to earn weekly wages.

Telenor Microfinance Bank will facilitate Careem Captains in registering for their Easypaisa mobile accounts after which all of their due payments would be digitally transferred directly to their Easypaisa accounts. The captains would then be able to receive the amount over the counter through Easypaisa agents or shops after biometric verification. This will ensure that the money is only received by the intended Captain.

“It gives me immense pleasure to announce our partnership with Careem Pakistan” said Shahid Mustafa, President & CEO, Telenor Microfinance Bank. “We are committed to playing our role in the promotion of financial inclusion and the overall digital ecosystem in the country. This collaboration reiterates our resolve to be a major player in the digitization of financial services in Pakistan,” he added.

“Careem’s mission is to simplify the lives of our people. We realize the importance of timely payments to captains, they work very hard and should be able to access their earned income with ease. With this partnership we will disburse payments even more quickly and further facilitate them in the process”, said Junaid Iqbal, Managing Director, Careem Pakistan.

About Telenor Microfinance Bank Limited

Telenor Microfinance Bank Limited (formerly Tameer Microfinance Bank), established in 2005, is the first scheduled microfinance bank in Pakistan. In 2009, we launched Pakistan’s first mobile banking platform, Easypaisa, which now has the largest nationwide footprint. Telenor Microfinance Bank has been awarded the ‘Best Microfinance Bank’ and ‘Bank the Unbanked’ award at the prestigious Pakistan Banking Awards twice in 2016 and 2017. http://www.telenorbank.pk

About Careem Pakistan

Careem is an app-based chauffer driven car service company, founded in Dubai in 2012, having a global force of 90,000-plus drivers and more than four million users registered through its mobile app. Careem – Pakistan has been operational in Pakistan since 2015 and is currently operational in 11 cities with 25,000 Captains, which is in growth phase.

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