-
Easypaisa to replace its existing platform with
Ericsson's mobile financial service solution, which allows
consumers to conduct secure mobile banking transactions with ease
and helps Easypaisa bring mobile money to unbanked citizens
-
Only 15 percent of Pakistan's population
reported to have a bank account; mobile money services will improve
access to banking services
-
With more than 21 million active consumers,
Easypaisa is one of the largest mobile money deployments
globally
Pakistan has an estimated population of 199
million, with approximately 60 percent of people living on under
USD 2 a day and only 15 percent reported to have a bank
account.
To accelerate the uptake of mobile money services
among the underbanked in Pakistan, Ericsson (NASDAQ: ERIC)
announces that Easypaisa, Pakistan's first and largest branchless
banking solution, is deploying Ericsson Wallet Platform to replace
its existing platform.
Easypaisa was launched jointly by Tameer Micro
Finance Bank and Telenor Pakistan. Norway-based Telenor Group,
which owns Telenor Pakistan, recently completed the acquisition of
Tameer Micro Finance Bank.
Easypaisa's partnership with Ericsson accelerates
and increases the availability of mobile money services for the
country's citizens, while positioning banks to succeed in an
expanding mobile money ecosystem.
The existing Easypaisa service, which includes an
integrated m-commerce solution, already supports more than 21
million active consumers and 75,000 agents in over 800 cities
throughout the region, including rural areas. This deployment
represents one of the largest mobile money service offerings in the
world.
Nadeem Hussain, Founder, President and CEO, Tameer
Micro Finance Bank, says: "Easypaisa is continuously focusing on
enhancing customers' experience of doing financial transactions in
a secure and seamless manner. It is essential to have the right
technology partner to roll out new services that provide added
benefits and services to propel financial inclusion through
branchless banking."
Muhammad Yahya Khan, Chief Financial Services
Officer, Telenor Pakistan, says: "Ericsson's next-generation wallet
platform is helping Easypaisa increase volumes and payment
transactions, enabling wider mobile money adoption and offering a
seamless customer experience. We will continue to expand our mobile
money offerings, benefiting our subscribers throughout the country
with our new platform."
Peter Heuman, Vice President and Head of
M-Commerce, Ericsson, says: "Through our work with Easypaisa and
Telenor, we provide mobile subscribers with more choices for
performing secure and reliable mobile financial transactions.
"Ericsson Wallet Platform simplifies banking
transactions on mobile devices, supporting the efforts that our
customers and partners are undertaking to create a more flexible
and transparent global financial ecosystem. These efforts are
advanced by the power of Ericsson solutions to help banks and
financial service providers launch mobile financial services
quickly."
Ericsson is powering the next generation of mobile
commerce development by connecting banks, operators, money transfer
organizations, and payment and internet service providers.
Ericsson's solution includes a fully integrated mobile wallet
platform capable of hosting all services from a range of financial
and commercial institutions, thereby achieving critical
interoperability. Ericsson also helps financial service providers
reuse existing assets to bundle secure telecom and financial
services.
To learn more about Ericsson's leadership in the
global mobile financial services market, including recent work with
ASBANC in Peru on a country-wide mobile money deployment, visit:
http://www.ericsson.com/m-commerce.
NOTES TO EDITORS
For media kits, backgrounders and high-resolution
photos, please visit www.ericsson.com/press
http://finclusion.org/wp-content/uploads/2014/04/Pakistan-Wave-Report-September-2014.pdf
ICT and the Future of Financial Services:
www.ericsson.com/industry-transformation/wp-content/uploads/sites/7/2014/11/ict-and-the-future-of-financial-services.pdf
For the population bank account study, please
refer to:
http://datatopics.worldbank.org/financialinclusion/country/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.
Norway-based Telenor Group, which owns Telenor
Pakistan, recently completed the acquisition of Tameer Micro
Finance Bank.
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 21 million
active customers. In 2015, Easypaisa moved nearly 3 percent 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 "Best
Mobile Money Service in the World", at Mobile World Congress in
Barcelona, Spain. For more information, visit: http://www.easypaisa.com.pk
About Tameer Micro Finance Bank
Limited
Tameer Micro Finance Bank Limited
(TMFB) is the first scheduled and largest microfinance bank in
Pakistan. Incorporated in 2005, it provides microfinance and
related financial services to the less privileged and unbanked
segments of society with an aim to contribute toward improving
lives in every home and help in poverty eradication under the
Microfinance Institutions Ordinance 2001. TMFB currently has over
173 customer touch points nationwide offering a range of financial
services, including deposits, loans, mobile accounts, health
insurance, remittances, cash management services, and
bank-on-wheels. Based on the results for the year ended December
31, 2015, JCR-VIS Credit Rating Company Limited (JCR-VIS) has
reaffirmed the entity ratings of Tameer Micro Finance Bank Limited
(TMBL) at 'A+/A-1' (Single A Plus/A-One). Outlook on the assigned
rating is 'Stable' as of April 28, 2016. For more information,
please visit: http://www.tameerbank.com
About Ericsson
Ericsson is the driving force
behind the Networked Society - a world leader in communications
technology and services. Our long-term relationships with every
major telecom operator in the world allow people, business and
society to fulfill their potential and create a more sustainable
future.
Our services, software and
infrastructure - especially in mobility, broadband and the cloud -
are enabling the telecom industry and other sectors to do better
business, increase efficiency, improve the user experience and
capture new opportunities.
With approximately 115,000
professionals and customers in 180 countries, we combine global
scale with technology and services leadership. We support networks
that connect more than 2.5 billion subscribers. Forty percent of
the world's mobile traffic is carried over Ericsson networks. And
our investments in research and development ensure that our
solutions - and our customers - stay in front.
Founded in 1876, Ericsson has its
headquarters in Stockholm, Sweden. Net sales in 2015 were SEK 246.9 billion (USD 29.4 billion). Ericsson is
listed on NASDAQ OMX stock exchange in Stockholm and the NASDAQ in
New York.
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FOR FURTHER INFORMATION, PLEASE CONTACT
Ericsson Corporate Communications
Phone: +46 10 719 69 92
E-mail: media.relations@ericsson.com
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Phone: +46 10 719 00 00
E-mail: investor.relations@ericsson.com
Pakistans underbanked get evolved
mobile money services
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Ericsson via Globenewswire
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