Pakistan’s underbanked get evolved mobile money services from Easypaisa and Ericsson.
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.