Easypaisa, Pakistan’s first and largest branchless banking service and a joint venture of Telenor Pakistan and Tameer Microfinance Bank, has partnered with Standard Chartered Bank Pakistan to launch its mobile payments service for corporate clients named “Straight2Bank Wallet” in Pakistan.
Using Straight2Bank Wallet, Standard Chartered’s corporate clients, such as NGOs & FMCGs, will be able to make secure payments directly into their beneficiaries’ Easypaisa Mobile Account. Corporate clients will also have the option to make cash disbursements to beneficiaries who do not have bank accounts by using only a Computerised National Identity Card (CNIC) number as an identifier. Standard Chartered Straight2Bank Wallet allows beneficiaries to receive their money quickly, securely from any of 70,000 Easypaisa outlets across 800 cities in Pakistan.
The payments on Easypaisa Mobile Accounts are sent in real-time, enabling corporate clients to bypass the onerous and risk-prone cash payment processes. Other benefits include improved cash flow for beneficiaries and visibility with certainty in payment date.
Commenting on the unique proposition, Muhammad Yahya Khan, Chief Financial Services Officer, Telenor Pakistan and Head of Easypaisa said, “Our partnership with Standard Chartered is a great step forward as we endeavour to expand our service offerings for our clients, making it easier than ever for Easypaisa users across the country to access secure and convenient financial services.”
Mr. Shazad Dada, Chief Executive Officer, Standard Chartered Pakistan said, “We are delighted to work with Easypaisa in launching Straight2Bank Wallet – furthering financial inclusion in Pakistan and making access to banking services effortless for our corporate clients and their beneficiaries. This initiative is a testament to our continued commitment to the country, and reiterates our brand promise of being ‘Here for good’.”