STAFF REPORT KHI: Pakistans first and largest branchless banking service and a joint venture of Telenor Pakistan and Tameer Microfinance Bank, Easypaisa, has become the first mobile money service in Pakistan to become interoperable with the existing banking infrastructure by launching the Inter Bank Fund Transfer (IBFT) service.

Under this initiative, the companys customers will be able to transfer funds between number of banks via the 1-link switch. Easypaisa brings this revolutionary, first of its kind innovative service to both its Mobile Account holders and Over-the-Counter (OTC) customers.

The Easypaisa Mobile Account holders can now move funds from any Bank Account into their Easypaisa Mobile Account.For the OTC service, any customer can walk into any of the Easypaisa shops and deposit cash directly into any bank account. With 40,000 Easypaisa shops in more than 750 cities and nearly 6 million unique customers using Easypaisa services each month, banked customers can deposit cash into their Bank Accounts without having to go into their Bank Branches. “It is great step in the Branchless Banking industry, a revolutionary development which will act as a catalyst for the robust growth of the branchless banking industry in Pakistan,” said Nadeem Hussain, President and CEO of Tameer Micro Finance Bank.

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