Meeting Easypaisa Mobile Account
By Arsalan Mir | February 26, 2010 | 16 Comments
A ‘Meet the Product’ bloggers session was arranged for the launch of Easypaisa Mobile Account yesterday evening. Around 30 bloggers from different arenas attended the event. The session was so full of energy that it not only remained meeting the Mobile Account but exploring its features, its reach to the unbanked and discussing the unmatched success of easypaisa in just four months from its launch.
The event started with ‘take time to relax’ activity to boost the energy level of the participants who came up after a long working day. It was followed by the recitation from the Holy Quran by Omair Ahmed.
The first key note speaker was Mr. Afnan Haider, Manager Corporate Communication from Telenor. He said that the two star industries, telecom and banking, have joined to come up with easypaisa and today it’s third product the Mobile Account. He also expressed that with in four months easypaisa has not only added to the numbers but also to the economy of Pakistan.
Second was Mr. Ali Abbas Sikandar, Group Executive Director for technology and operations at Tameer Microfinance Bank. He shared some numbers about easypaisa:
- 500,000: the number of total transactions that easypaisa has processed in the last four months
- 420,000: the number of bill payments since its launch
- 120,000: the number of money transfer transactions processed after its launch
He mentioned the fact that the State Bank policy for branchless banking has made easypaisa a successful model which other countries want to follow. He also recognized bloggers as opnion makers.
This was followed by introduction of the bloggers and a video highlighting the bloggers contribution for the Haiti earthquake. The efforts of Pakistani bloggers for the Earthquake victim and IDP support was also appreciated.
Then came in Mr. Omer Moeen Malik, Business Manager Easypaisa to introduce Mobile Accounts. He recognized bloggers as playing a key role for promotion of positive image of Pakistan in technology arena. He said that easypaisa standing with M-Pesa in four months in itself speaks of easypaisa’s success.
While giving out details of the Mobile Accounts, he gave in a very good example highlighting the importance of mobile phone today. He said that if a person forgets his wallet at home on way to office he will not come back to get it but if today a person forgets his mobile phone he definitely comes back to get it. So all is well to have a mobile full of money.
He then gave out the details of the mobile account process and the services it will offer. Transactions those are possible with easypaisa account include:
- Cash deposit
- Cash withdrawal,
- Utility Bill Payment
- Funds Transfer
- Account balance
- Mini-statement
- PIN management
- Favorites
- Transfer In/Out
This was followed by an excellent Q & A session, where both the bloggers and easypaisa management shared their ideas and they hinted on what can come next. This session continued to dinner tables.
Over all it was a good interactive session ending with this video about Danish using his easypaisa Account.
Check out the event pictures here.
Tags: account > BILL > cash > deposit > easypaisa > funds > mobile > Money > Pakistan > payments > tameer > Telenor > transfer
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16 Responses to “Meeting Easypaisa Mobile Account”
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February 26th, 2010 @ 12:49 pm
Any idea if there were any questions done on security aspects of this service?
February 26th, 2010 @ 1:34 pm
The security aspects were asked about a lot and i am pretty much sure that this element will be heavily scrutinized. As for the security measures it is exceptional and has been taken to new hieghts. For example it is impossible to send (transfer) amount to a wrong number due to the unique “code” associated with every mobile account.
February 26th, 2010 @ 2:21 pm
[...] in four months in itself speaks of easypaisa’s success. … Here is the original: Meeting Easypaisa Mobile Account | State of Telecom Industry in … Tags: creative, find-best, imran, internet, key-role, months, success [...]
February 26th, 2010 @ 2:22 pm
[...] This cup of tea was served by: State of Telecom Industry in Pakistan [...]
February 26th, 2010 @ 2:55 pm
Yes Haider, as Ali mentioned, the security aspects were looked into. I personally had asked about the same to Omar the Business Manager of easypaisa and to let you know that SBP has reported 0 (zero) fraud in easypaisa transactions over the past four months.
February 26th, 2010 @ 3:07 pm
Though the services is good but its quite expensive for someone who is already using internet banking, where all the bill payments are done free, and interbank money transfer is free.
February 26th, 2010 @ 3:35 pm
This point was also raised. But the cost is justified at the stake of convenience for who can do the internet banking and comes up around the same for those who do transactions unbanked.
February 26th, 2010 @ 3:54 pm
Nice service, no doubt. My question on security would be more on internal threats, which cannot really be overlooked in financial transactions. USSD cannot be encrypted, and hence be intercepted by someone having access to the USSD gateway. Probability: very little…implications: really bad, not just for the operator, but for the complete industry as consumers may lose faith.
Nonetheless, hopefully they’ll come up with something preventive rather than remedial to mitigate these risks.
February 27th, 2010 @ 9:01 am
So finally they realized the failure of Easy Paisa Outlet concept and moved ahead by copying Mobilink Genie. I think the whole team behind Easy Paisa should be fired for wasting huge maekting and capital/operational budgets on something that did not fly. Launching Mobile Account confirms their failure in Outlet concept.
February 27th, 2010 @ 9:30 am
I don’t think the otc concept from easypaisa has failed and the stats support this too. The amount of bills paid by easypaisa utility bill service in a month easily surpasses the same paid by ATMs or any other ADCs.
The launch of Mobile Account is a step towards not only bring out the service directly to users but it is more to penetrate the unbanked population and to offer them the basic banking services.
March 1st, 2010 @ 12:10 pm
It is the future. telcos can really bring on board those who do have a bank account yet. but security aspect is to be taken care of. recently a deleted movie from a mobile phone became a cause of death. my point is people needs to be educated as well that how secure a mobile phone and how more secure it can be because cyber criminals are always one step ahead. So only relying on telcos security won’t be enough, the other party(user) should be brought into loop as well.
March 1st, 2010 @ 12:59 pm
Mudassir, your concern is valid, awareness needs to be spread on mobile phone security. About banking on it, in particular with easypaisa, I have reviewed it all and it follows the SBP guideline for security on transaction. Your account number is your mobile phone number plus a randomly generated digit. You have 5 digit pass-code and you are advised to keep the pass-code secure to yourself and do not save it anywhere on your phone.
March 2nd, 2010 @ 11:30 am
A great service. I would say why not include shopping and dinning out in this? This is certainly doable. Security is another issue which needs to be looked in to. I think it is a great effort and commendable by all accounts.
March 2nd, 2010 @ 11:35 am
[...] Pakistan. Off course between easypaisa account holders. Since its launch the service has been used extensively by the people and more will follow the trend as they come to know about its [...]
March 3rd, 2010 @ 12:29 am
[...] Here is a pictorial coverage of easypaisa Mobile Account blogger’s meet-up held last Thursday. Read the complete event story here. [...]
March 3rd, 2010 @ 8:27 pm
[...] More details here. [...]