STAFF REPORT IBD: While marking its third anniversary, Easypaisa revealed that its customers carried away 83 million transactions involving Rs 178 billion in initial three years of service.

Telenor Pakistan and Tameer Microfinance Bank had jointly launched Easypaisa, a mobile banking solution for masses, on October 15th, 2009.

A ceremony has recently been arranged to celebrate the third anniversary where Easypaisa also unveiled the insurance accounts.

“Daily transactions count reached 155,000 worth Rs. 363 million in 2012 for various kinds of functions mainly the funds transfers and bill payments,” an official of the Company said on the occasion adding that the average monthly transactions this year stood at 4.6 million transactions worth Rs. 11 billion per month.

According to him, the Company now has over 1.1 million customers availing mobile accounts of easypaisa. Despite the international funding, Easypaisa has made attempt to be innovative in the service.

This, when coupled with strict branchless banking regulations and high transaction charges, has resulted into sluggish adoption of phone (and branchless) banking services.

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