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easypaisa Mobile Account – Telenor Pakistan and Tameer Bank February 26, 2010

Posted by Ausaf Ahmad in Telecom.
Tags: easypaisa, Tameer Bank, Telenor
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Yesterday I got to know about the product of Telenor- Tameer Bank which is “easypaisa Mobile Account” . The product as in accord seems to be the best of the solution provided in the Pakistani Market so far.

The presentation start bit late but it was wonderful session I had and meet up with the guys both from Telenor- Pakistan and Tameer Bank. They give us the information about the product and its salient features

The main feature which is being covered during the presentation jointly given by the representative from Tameer bank and Telenor Pakistan are as follows:

• Easypaisa Mobile Accounts are bank accounts opened for Telenor subscribers to access from their mobile phones at any time

• Users only have to go to a Merchant to ‘Deposit Cash’ or ‘Withdraw Cash’ from their easypaisa Mobile Account. All other services can be accessed on the user’s mobile phone at any time

• This service is available for only Telenor subscribers

• Registration is only available only at Telenor SSCs, Telenor Franchises and Tameer Bank Branches for now

• The mobile account can be accessible from any mobile handset so it removes the dependability of new mobile handsets usage and also the GPRS things

• No GMS Chareges being implied during any sort of transaction and also the security feature related to it is the usage of USSD channel

• Through Mobile Account you can pay your utility bills , money transfer, mini statement or balance enquiry and in coming future they also offered e-load purchase / Persona Bill Payments , Fund Transfers to any Bank in Pakistan ,ATM Cards, Other Payments *

The main target market are

• Any person with a Telenor SIM who wants to have instant access to a Bank Account from his mobile phone

• Any person with a Telenor SIM who wants to have the freedom to send/receive money to other people or pay utility bills from his mobile phone at any time

• Any person with a Telenor SIM who wants to be part of the largest Bank with thousands of branches in Pakistan and the facility to withdraw cash or deposit cash from these branches (Merchants) at any time

easypaisa Merchants are not only Telenor Franchises , Telenor Sales and Service Center but also the Tameer Bank Branches and Retailers all across Pakistan through them you can do Cash Deposit and Withdrawl but the easypaisa account can be open on later three not on retailers points .

easypaisa Account – Product Details

• A Customer has to come to an Telenor Franchise/SSC or Tameer Branch to open an easypaisa Mobile Account

• Account Opening Request takes 10 minutes to enter into the system

• Subscriber will be called back in 3 hours after Nadra CNIC verification. Account will be activated and Subscriber will be asked to select a PIN which is of 5 digits

• Transactional Limits Rs.10,000/day, Rs.20,000/month, Rs.1,20,000/year ( These limits do not apply on Transfer In)

• Maximum Balance of Rs. 60,000 in the account at any time

• SBP requirements dictate the account limits that need to be in place. For higher limits, the Customer needs to open a bank account with Tameer Bank first.

• Account Opening Fee = Rs. 50 + tax (non-refundable)

easypaisa Secure Online Web Login

• Subscribers can log into the secure, online web portal through the Internet to perform all easypaisa Mobile Account transactions from the web

• http://www.easypaisa.com.pk/account

• Additional Services on the online web portal:

• Complete Account Statement and History of all Transactions

• Schedule recurring payments

• Web login idle time out for subscriber is 30 minutes

Conclusion:

In the end I can summarize that this product seems to be effective one where the Telenor subscriber are in good numbers and also the early adapters will get benefit from it (I hope so). This thing turns out to “Star” only time will tell. But its bit early to say about anything more about this product as its needs to be reached out to Masses of Pakistan and specially in the rural areas of Pakistan where it can be utilized more effectively and in a better way.

Its being offered initially for individuals if I am remembering it correctly AND will later on will be offered to Corporate Customer as well ( Correct me if I am wrong). You can get more information about the product on “www.easypaisa.com.pk”

I hope it will fit into the theme as they provide “Any Person Any Place Any Time” .