Need help with your essay? Easypaisa Telenor and the banking sector of Pakistan Easypaisa, the largest branchless banking service in Pakistan offers the most convenient access to Financial Services for all Pakistanis! Whether you’re a mobile phone user or not, easypaisa offers services that would forever change the way you perform your financial transactions. Join the easypaisa revolution, leave all the tensions and difficulties behind and take more control over your life. Back ground: Telenor Pakistan launched its operations in March 2005 as the single largest direct European investment in Pakistan, setting precedence for further foreign investments in the telecom sector. The company has crossed many milestones and grown in a number of directions, making Telenor Pakistan a leading telecom operator of the country. We are the fastest growing mobile network in the country, with coverage reaching deep into many of the remotest areas of Pakistan. In the most difficult terrains of the country, from the hilly northern areas to the sprawling deserts in the south, at times we are the only operator connecting the previously unconnected. We are keeping ahead by investing heavily in infrastructure expansion. With USD2 billion already invested, we have extended agreements with our vendors for network expansion and services until 2009. The agreements, with a potential to result in USD750 million worth of orders from Telenor Pakistan, are some of the biggest of their kind in the industry. We are spread across Pakistan, creating 2,500 direct and 25,000-plus indirect employment opportunities. We have a network of 23 company-owned sales and service centers, more than 200 franchisees and some 100,000 retail outlets. History: Telenor Pakistan is 100% owned by the Telenor Group, an international provider of high quality voice, data, content and communication services in 14 markets across Europe and Asia. Telenor Group is among the largest mobile operators in the world with over 179 million mobile subscriptions (Q1 2010) and a workforce of approximately 40,000. Telenor Pakistan is the countrys single largest European investor, with investments in excess of US$2 billion. It acquired a GSM license in 2004 and began commercial operations on March 15, 2005. At the end of May 2010 it had a reported subscriber base of 23.65 million, and a market share of 24% making it the countrys second largest mobile operator. Offering mobile financial services Telenor Pakistan acquired 51% of Tameer Microfinance Bank in November 2008. In 2009 it launched ‘easypaisa’ to become Pakistan’s first telecom operator to partner with a bank to offer mobile financial services across Pakistan. Contributing to Pakistans economy The company continues to contribute to Pakistans economy. It has created 2,500 direct and 25,000 plus indirect jobs and has a network of 24 sales & service centers, more than 250 franchises and some 150,000 retailers, thus providing a means to livelihood to thousands. For 2009 it is estimated that Telenor Pakistan contributed Rs20 billion in various forms of direct and indirect taxes to the economy of Pakistan. Internet service provider Telenor Pakistan provides wide EDGE connectivity across the country. It has one of the largest data networks (GPRS) in Pakistan providing Internet services to customers. Today Telenor Pakistan has grown to become a leading mobile communications services provider of the country. Telenor Pakistans corporate headquarters are in Islamabad, with regional offices in Karachi, Lahore, Faisalabad, Multan, and Hyderabad. Corporate Responsibility Telenor Pakistans flagship corporate responsibility program, Khuddar Pakistan, aims to create dignified opportunities for persons with disabilities. The purpose is to become the most disabled-friendly organization in Pakistan in terms of employment, service, and community support. Environmentally conscious Telenor Pakistan has taken and continues to implement a number of environmentally-friendly initiatives. These include mainstreaming energy efficiency and alternate energy solutions, and implementing occupational health & safety practices that comply with international standards. About Telenor: Telenor is Norways leading telecommunications group. As the former state-owned telephone monopoly, Telenor remains the dominate provider of fixed-line telecommunications services in the country. Fixed-line network operations continue to account for 35 percent of the groups revenues. Telenor also controls 56 percent of Norways mobile telephone market, through subsidiary Telenor Mobil. Yet the small size of its domestic market has led Telenor to look elsewhere for growth, and in the early 2000s, Telenor has emerged as one of the most geographically diversified of Europes major telecom groups. For its international expansion, Telenor has targeted especially the mobile telephone market. In Scandinavia, the company operates djuice, through subsidiary Telenor Mobile in Sweden, and owns Sonofon, the number two mobile service in Denmark. Beyond Scandinavia, the company owns 100 percent of Hungarys Pannon GSM, that countrys second largest cellular service provider, and 100 percent of Promonte, the leading mobile service in Montenegro. Telenor also has entered Ukraine through a 56.5 percent stake in Kyivstar GSM; Russia, with a 29 percent stake in VimpelCom; and Austria, where it owns 17.5 percent of that countrys ONE mobile service. Further abroad, Telenor has entered Malaysia, through a 61 percent stake in that countrys DiGi cellular phone group; Bangladesh, with 51 percent of GrameenPhone; and Thailand, with a 40.3 percent stake in DTAC. Telenor also owns a license to roll out cellular phone service in Pakistan. Telenors other operations include television broadcasting via cable and satellite. The company owns 100 percent of satellite broadcaster Canal Digital. Telenor is led by CEO Jon Fredrik Baksaas and is listed on the Oslo and NASDAQ Stock Exchanges. The Norwegian government holds more than 53 percent of the company but has passed legislation allowing its stake in Telenor to drop below 49 percent. In 2003, Telenor posted revenues of $7.9 billion. Telenor: Telenor Pakistan is the fastest growing mobile operator in Pakistan and represents the largest Foreign Direct Investment in the country from Europe, in any industry, ever. The company is the first Greenfield mobile operation outside of Norway by Telenor ASA, the parent group, with an investment of USD 2 billion to date. Increased competition from international operators like Telenor, within an investor-friendly and stable regulatory environment provided by GOP, has been a major driver of growth and productivity in Pakistans economy, and has brought down end-user prices to among the lowest in the world. Telenor ASA is an international provider of high quality telecommunications, data and media communication services. It ranks as one of the biggest GSM service providers in the world with over 153 million subscribers. It is also the largest provider of TV services in the Nordic region. It ranks as No. 25 overall and No.5 in Europe in Business Weeks global ranking of the top 100 performers in the technology industry. The Group is recognized as the best Mobile Telecom company in the world by the Sustainability Yearbook 2008 and as the No.1 mobile operator on the Dow Jones Sustainability Indexes (DJSI) 2007. Since its launch of services in March 2005, Telenor Pakistan has exceeded all expectations: It has created the second largest mobile network and the largest and most advanced data network in the local market, turned into the second highest revenue-generating mobile player with the highest Average Revenue Per User (ARPU) in the market, and become the second largest mobile player in the market with 18 million active subscriptions in little more than 3 years of operations. During the first half of 2008, Telenor Pakistan added 3.24 million subscriptions against the industry average of 1.63 million, taking 33% of the market share of net additions over the period – the highest in the mobile sector in Pakistan. The company has created 2500 direct and more than 25000 indirect employment opportunities with 100,000+ retail outlets and 200+ franchises in addition. 99.9% of these employment opportunities belong to Pakistanis. Initiated with a relief effort worth 95 million rupees in the wake of the devastating earthquake of October 2005, Telenor Pakistans community contributions have extended over the years to include education, empowerment, enterprise, and environment - with special focus on bringing the telecom promise within the grasp of the most disadvantaged sections of the society. Tameer microfinance bank: Tameer Bank, a fast growing microfinance bank licensed by State Bank of Pakistan in August 2005, rated A- (single A minus) and A-2 (A two) by JCRVIS, has a current network of 31 on-line branches and 35 on-line sales & service centers across Sindh and Punjab. It has given new complexion to the microfinance sector by induction of innovative technology driven financial services to the under-served population through choice of bank tellers, ATM machines and Point of Sale (POS) terminals. Its product set includes loans, deposits, overdrafts, insurance, payments and domestic remittances. Since inception, Tameer has disbursed more than Rs 3.5 billion with an active portfolio of Rs. 1.4 billion and over 80,000 loan customers with delinquency trend of under 2% supported with a deposit base of more than Rs 1 billion The total customer base of Tameer has crossed 170,000 with staff strength of 1,100. Introduction of t.bank: TAMEER is a Microfinance bank managed by a group of highly experienced bankers committed to go where no (commercial) bank has gone before. It is a private commercial Microfinance bank licensed by the State Bank of Pakistan under the Microfinance Ordnance 2001. TAMEER distinguishes itself from other Microfinance Banks by being one of the first nation-wide, private sector, non-NGO transformed, commercially sustainable micro-finance institutions in Pakistan. We aim to provide dedicated services to the economically active poor and to be demand driven, client centered and responsive to the special needs of our customers. We serve low-income, salaried, self-employed and micro entrepreneurs men & women with a range of financial products designed to allow them to grow their businesses and produce significant economic multiplier effects throughout local economies. We also provide home improvement products and term deposits. Our key characteristic is a professional core banking competence that will contribute to the development of micro-finance as a viable and attractive commercial activity in Pakistan. Tameer in November 2008 entered into an agreement with Telenor Pakistan who acquired 51 per cent of the shares in Tameer Microfinance Bank. The acquisition of 51 per cent of the shares in Tameer Microfinance Bank is part of strategy to offer financial services in Pakistan. Tameer Bank is a Microfinance bank set up by a group of highly experienced bankers committed to go where no (commercial) bank has gone before. It is a public limited, non listed, commercial Microfinance bank licensed in August 2005 by the State Bank of Pakistan under the Microfinance Ordnance 2001. It started its commercial operations in December 2005. Tameer Bank distinguishes itself from other Microfinance Banks by being one of the first nation-wide, private sectors, non-NGO transformed, commercially sustainable micro-finance institutions in Pakistan. We aim to provide dedicated services to the economically active poor and to be demand driven, client centered and responsive to the special needs of our customers. Easypaisa: The world of convenience!! easypaisa, the largest branchless banking service in Pakistan offers the most convenient access to Financial Services for all Pakistanis! Whether you’re a mobile phone user or not, easypaisa offers services that would forever change the way you perform your financial transactions. Join the easypaisa revolution, leave all the tensions and difficulties behind and take more control over your life! Telenor recently launched a service called ‘Money Transfer’ under the banner of Easy Paisa, through which any Pakistani citizen can transfer Money across the country through 4,000 outlets It can be safely said that the Easy Paisa method of bill payment has been received well by consumers and people have started to rely on it. The usage stats are more than the bills paid at ATMs in Pakistan. Now like it was expected, Telenor has started expanding the set of transactions offered over its ‘Easy Paisa’ service. After the success of utility bill payments, Telenor has launched its ‘money transfer’ transaction that makes it possible for absolutely ANY customer to send and receive money as the receiving and sending of money does not necessarily require a cell phone. Telenor’s target market appears to be ‘Domestic Remittance’ users in Pakistan i.e. People residing in urban areas for work and sending money from one city to the other or to their native villages. It also aims to work as a replacement of ‘traveller cheques’. In the second phase Telenor Easy Paisa shifted to money transfer but still there was no mobile phone involved except sending a SMS with payment retrieval code , again non existent use of a mobile but a service for the masses to easily send and receive money across the country , now my driver can easily send money his mom in Abbotabad without involving anyone in between . Today Telenor announced the third phase a working Mobile Bank where I can store money , transfer money , pay my bills and even my friends all from my cell phone . Introducing Easy Paisa Mobile Account , a revolutionary service where I , an executive in a company in my real life , to a sweeper in street can all have a ‘Virtual Bank Account’ always accessible , it’s safe and secure and convenient to transfer money and even get physical cash from 5000 Easy Paisa Outlets across Pakistan . Becoming a Easy Paisa Mobile Account holder is also very easy , all you have to do is to have a Telenor SIM Card ( issued in your name ofcourse) CNIC and can register from any Telenor / Tameer Bank Franchise or outlet . You need to submit your customer information , photograph ( will be taken there digitally ) sign and affix thumb print on account form ( very useful for the ‘illiterate’ in terms of education but literate in terms of mobile usage ) get the fee receipt and with a verification call from bank ( takes up to 3 hrs) you will be all set with your ‘ Virtual Bank Account’ Easypaisa 4 pc’s Product: Telenor’s Easy Paisa’s earlier products, i.e. bill payments and money transfer through EP outlets, were just the beginning. Further products in pipeline were pretty evident, which they had expected to surface with time.The latest service called Telenor Easy Paisa Mobile Accounts. Through Easy Paisa Mobile Accounts, customers can transfer transfer money, pay bills and avail alot of other interesting services all through their mobile. PLACE: They start with Easy Paisa not only Telenor customers but everyone in Pakistan can pay their bills through nearest easy paisa outlet, 24 hours a day, 7 days a week. Telenor says that, currently there are 2500 retail outlets across Pakistan which will be increased in few months to 8000 retail outlets including Telenor Sales and Service Center and Telenor Franchise. Promotion: We have seen a great suspense from Telenor by their EasyPaisa Advertisement, Currently at all web, Road hooding, Fly Overs, Television Commercial, just put your eye every where you will see easypaisa advertisements, I am really impressed with the TV Commercial it seems to break the old tradition but where is the material on which Telenor is spending a huge amount, Utility Bills Payment through Telenor service centers and franchises by paying extra money ,Rs.10, Rs.15 and Rs.25. Price: Services: “Easypaisa is a uniquely convenient way for everyone to carry out financial transactions such as money transfer and bill payments. More than six million transactions worth Rs10 billion have been moved through the system in this one year, with a million transactions worth nearly Rs2 billion moved in the last month alone. These numbers reflect our customers’ increased trust in the services. Our aim is to continue to change the way financial transactions are carried out in Pakistan, and to develop a portfolio of easypaisa services that meet different customer needs.” Bill Payment:Easypaisa bill payment service brings you a hassle free yet secure solution to pay your Electricity, Gas and Telephone (PTCL) bills. Now you can easily pay your utility bills from your nearest easypaisa shop, Telenor franchise, Telenor Sales & Service Center or Tameer Microfinance Bank branch or through your easypaisa mobile account. A New Way of Servicing:Pay wherever you are: easypaisa bill payment offers you a convenient way of paying your utility bills through vast network of easypaisa agents. Just visit any of your nearest easypaisa shop, franchise, Telenor Sales & Service Center or Tameer Microfinance Bank branch or through your easypaisa mobile account and pay your utility bills easily. Pay at any-time during the day: Unlike conventional banking timings, easypaisa services are available 24 hours a day, 7 days a week. Standing in long queues for paying utility bills is now part of the history! Through this service, you can easily bypass the hassle of waiting in long queues, observing the tightly scheduled timings of conventional bill collection points and also the difficulties of running between places for the bill payment. Pay with Peace of Mind: This service is absolutely secure as all transactions are strictly monitored through our system and also by our partner utility companies so that chances of discrepancies are avoided. Pay on the go: Now you need not waste your time by visiting conventional bill collection points (banks etc). You can easily submit your utility bills at any of our easypaisa outlets while you are on a routine shopping trip. Utility Companies On Board: Utility Bills of following Utility Companies can be paid initially: PTCL (Pakistan Telecommunication Company Limited) SSGC (Sui Southern Gas Company) SNGPL (Sui Northern Gas Pipelines Ltd) IESCO (Islamabad Electric Supply Company) KESC (Karachi Electric Supply Company) HESCO (Hyderabad Electric Supply Company) MEPCO (Multan Electric Power Company) Core proposition: Majority of un-banked are not Initially seeking: • Initially transformational banking will be a transaction processing opportunity – it will develop into deposit taking opportunity as well asproviding financial safety net • Development of suite of both banking and non-financial services to meet the aspirations of the general public ▫ Bank account accessible via a mobile phone • Instead, they want something better than cash. • They want to pay people, or transfer funds, ▫ Without having to be physically travel distances ▫ Instantly ▫ Safely and with confirmation.
Posted on: Sun, 03 Nov 2013 04:31:14 +0000
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