Easy Paisa – Mobile Banking in Pakistan and its Comparison

Mobile Banking in Pakistan and its Comparison

Warid: http://mobilepaisa.com.pk/ 111 111 321

Telenor. Easy Paisa http://www.easypaisa.com.pk/  111 345 100

Mobilink: Mobicash http://mobicash.com.pk/  4444, 111 124 444

Uble Omni:  http://www.ubldirect.com/Corporate/BankingServices/Omni/home.aspx

Ufone:Upaisa http://www.ufone.com/upaisa/   7777

Zong: Timepay http://www.timepey.com/ 0311 222 1 333
Comparison between the mobile banking services in Pakistan. Mainly between Mobicash, Timepey, Easy Paisa, Upayments and Omni.
Pakistan is now one of the countries with incredible growth in the market of branch-less & mobile banking. The branch-less & mobile-banking is penetrating at quicker pace throughout the country and no doubt there is a lot of potential.
Major players of banking and cellular phone are entering into this financial sector. Some of the big names that have already entered into branch-less banking in Pakistan are:

  • “Easypaisa” by Tameer Microfinance Bank
  • “Mobicash” by the partnership of Mobilink & Waseela microfinance Bank
  • “Omni” by United Bank Limited
  • “Timepey Service” by Zong and Askari Bank
  • “Upayment” by Ufone & HBL, Summit Bank, Soneri Bank and Bank AL Habib

Customers are progressively utilizing the transaction services for money transfer, utility payments, bank accounts and home remittances through different companies led by banks or mobile operators.

Mobile Banking Services Service Provider
Mobicash Money Transfer
Bill Payments
Upayments Money Transfer
Bill Payments
ULoad recharge
Mini bank statement
Timepey Money Transfer
Bill Payment
Mobile Phone TopUp
Deposit/take out Cash into Timepey Account
Salary Disbursement Solution for Corporate
Easy Paisa Money Transfer
Bill Payments
Many other Telenor services
Omni Services on Omni dukaan, Internet and SMS.
Free Bills Payment
Instant Domestic Remittance
Free Mobile Top Up (Warid, Ufone and Zong)
Price comparison:
Transaction Slabs (PKR) Mobicash Timepey Easy Paisa Omni Ufone
0 – 1,000 Rs. 60 Rs. 60 Rs. 60 Rs. 60 Charges:
Rs. 5 + tax,
on every transaction.
1,001 – 2,500 Rs. 120 Rs.120 Rs. 120 Rs. 100
2,501 – 4,000 Rs. 180 Rs. 170 Rs. 180 Rs. 170
4,001 – 6,000 Rs. 240 Rs. 230 Rs. 240 Rs. 240
6,001 – 8,000 Rs. 300 Rs. 290 Rs. 300 Rs. 350
8,001 – 10,000 Rs. 350 Rs. 350 Rs. 360 Rs. 350
10,001 – 13,000 Rs. 400 Rs. 400 Rs. 420 Rs. 410
13,001 – 15,000 Rs. 450 Rs. 450 Rs. 480 Rs. 460

It is also expected that the percentage of Pakistan’s adult population using mobile financial services could go up from the current 2% to 35% by 2020.

Around 16 million branchless banking transactions, worth of Rs. 59 billion, have been conducted only in July-September period in Pakistan
– State Bank of Pakistan (SBP) statistics

According to a recent study conducted by Telenor Group and Boston Consulting Group, the wider access to mobile financial services in Pakistan could lead to the creation of 1 million new jobs by 2020.
An estimated US$2 billion could be added annually to government revenues, helping raise Pakistan’s GDP growth by 3% by creating increased access to credit, hence prompting new business creation, and by formal remittances and increased savings.

The government is further encouraging innovation by encouraging the use of branchless banking to distribute government payments. For example, NADRA has designed a distribution platform “e-Sahulat” to provide online payment and collection facility for the general public as well as for organizations.
Mobile banking can prove to be a game-changer in improving access to finance in Pakistan. The success of mobile Banking in Pakistan has a positive impact for the banking industry. Beside the benefits and convenience created for the consumers, commercial banks will witness reduced costs on branch maintenance and resources. It will also increase the profit margins of Banks and further encourage them for the development of innovative banking techniques in the industry.