Easypaisa will now replace the mobile financial service solution previously provided by Ericsson, which will allow the consumers to make use of the secure mobile banking transactions easily, also aiding Easypaisa in bringing mobile money to unbanked citizens.

As reported, only 15 percent of Pakistan’s current population has a bank account, and hence this move will lead to mobile money services being available on a better platform for banking services.

The platform was launched by Tameer Micro Finance Bank and Telenor Pakistan together. The Norway-based Telenor Group, is also owned by Telenor Pakistan, after its recent acquisition of Tameer Micro Finance Bank.

Pakistan currently holds an estimated population of 199 million, out of which about 60 percent of people have an earning below USD 2 a day.

This mobile money services has been launched keeping in mind the enhancements among the underbanked in Pakistan while also positioning the banks to succeed in an expanding mobile money ecosystem, with the current Ericsson Wallet Platform will be replaced as announced by Ericsson.

The existing Easypaisa service, includes an integrated m-commerce solution, with support for more than 21 million active consumers and 75,000 agents in over 800 cities throughout the region, including rural areas. This deployment is one of the largest mobile money service offerings in the world till date.