What is Easypaisa? Easypaisa Review

Easypaisa is known as the Pakistani version of "Alipay". Easypaisa is the largest Internet financial application product in Pakistan and currently has about 20 million users.

Function

Pay electricity, gas, telephone, water and internet bills anytime, anywhere;

·money transfer;

· Easily purchase airtime on any mobile network;

Purchase insurance;

International transfers;

Savings;

·Wage payment;

Online payment;

Easypaisa provides ATM cards to all customers, which allow users to withdraw cash from their Easypaisa mobile accounts , etc.

·New blockchain remittance service will be added soon.

Pakistan Market Status

According to the survey, Pakistan has a population of about 200 million, of which about 100 million are under the age of 35. The huge population means a market with unlimited potential and a steady supply of labor. Previously, Pakistan's Internet penetration rate and smartphone penetration rate were not high, and payment channels and logistics distribution were also backward. More than 90% of consumers paid in cash. It can be seen that Pakistan's mobile payment market is still in its early stages of development and has great development potential.

In recent years, Pakistan's Internet coverage has increased significantly. As of now, its Internet users have increased to 56 million, and the use of smartphones has also increased significantly to 70%. According to statistics, the total value of Pakistan's e-commerce industry was US$100 million in 2016; and in the next five years, this value will continue to rise, and by 2020 the industry scale will exceed US$1 billion.

Development History

- In 2009, Telenor Pakistan, Pakistan’s second largest cellular and digital service provider, and Tameer Microfinance Bank launched Easypaisa with the approval of the State Bank of Pakistan.

-In March 2018, Pakistan Easypaisa and Alipay cooperated to upgrade Pakistan Easypaisa into the Pakistani version of Alipay by drawing on Alipay's technology and experience. The latest version of Easypaisa released this time can provide inclusive financial services to local users from online to offline scanning and micro loans.