Wallets/easypaisa
Easypaisa
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Overview
Easypaisa is Pakistan's first digital bank + major mobile-money platform, operated by Easypaisa Bank Limited (formerly Telenor Microfinance Bank Limited) — branded as the consumer-facing service of Telenor Pakistan [1, 2, pk-cro]. Launched 2009, Easypaisa was Pakistan's first mobile financial service. By late 2025, Easypaisa had 18.2 million users + 9.6 million monthly active users (+32% YoY). In 2024, Easypaisa processed 2.8+ billion transactions worth ~PKR 9.5 trillion (+38% YoY transaction value).
January 28, 2025: Easypaisa Bank Limited received commercial operations approval from State Bank of Pakistan (SBP) as the country's first digital bank — following rebrand from Telenor Microfinance Bank Limited. This positions Easypaisa as Pakistan's first formally-licensed digital bank.
History
October 2009 — Easypaisa launches [2] as joint venture between Telenor Pakistan + Tameer Microfinance Bank — Pakistan's first mobile financial service.
2010-2018 — Mass Pakistani adoption + branchless banking pioneer [2]: USSD + agent-network-driven.
2017-2019 — Ant Financial invests in Telenor Microfinance Bank [2]: Strategic Chinese fintech alignment (Ant later exited).
2020-2024 — Smartphone app + super-app expansion [1]: Beyond USSD into multi-product fintech.
2024 — 13M+ Telenor Microfinance Bank users + 16.2M Easypaisa MAU + +23% YoY [1].
January 28, 2025 — Rebrand: Telenor Microfinance Bank → Easypaisa Bank Limited [3]: SBP commercial operations approval as Pakistan's first digital bank.
Late 2025 [1]:
- Total users: 18.2 million.
- Monthly active users: 9.6 million (+32% YoY).
- 2024 transactions: 2.8+ billion worth ~PKR 9.5 trillion (+38% YoY transaction value).
Ownership & operator
Operating entity: Easypaisa Bank Limited (formerly Telenor Microfinance Bank Limited).
Parent: Telenor Pakistan (subsidiary of Telenor Group, Norway).
Historical major investor: Ant Financial / Ant Group — held substantial Telenor Microfinance Bank stake (later exited).
Other historical: Tameer Microfinance Bank original JV partner with Telenor (absorbed).
Regulator: State Bank of Pakistan (SBP) — Pakistan's first digital banking license (Jan 28, 2025) + Mobile Financial Services Provider license.
Technical integration
Easypaisa is Pakistan's first digital bank + MFS [1, 2]:
| Layer | Description |
|---|---|
| Channels | USSD (*786#) + Easypaisa app (iOS + Android) |
| Identifiers | Phone number + QR code + CNIC (Pakistani national ID) |
| National instant rail | [[raast]] (SBP instant-payment rail) |
| Agent network | Substantial Pakistani agent + retailer footprint |
| Digital banking license (since Jan 2025) | Full retail banking products — savings, deposits, credit |
Users & growth
Pakistan (late 2025) [1]:
- Total users: 18.2 million
- Monthly active users: 9.6 million (+32% YoY)
2024 transaction performance:
- Transactions: 2.8+ billion
- Value: ~PKR 9.5 trillion (+38% YoY)
- Mobile-app MAU: 16.2 million (+23% YoY)
Use cases
P2P transfers [1]: Cardinal use — phone-number-addressed via Raast.
Cash-in / cash-out via agent network [2]: Pakistani physical-network reach.
Bill payments + utilities [1]: Pakistani services.
Mobile credit + data top-ups (Telenor primary + cross-MNO) [1]: Multi-MNO support.
Digital banking (since Jan 2025) [3]: Deposits, savings, credit, investments via Easypaisa Bank Limited.
Merchant QR payments via Raast [raast-cro]: Pakistani merchant acceptance.
Government social-payment disbursement PK: Ehsaas + BISP integration.
International remittance receiving PK: Pakistani diaspora to Pakistan flows.
Implementations & partners
Operating entity: Easypaisa Bank Limited.
Parent: Telenor Pakistan + Telenor Group (Norway).
National instant rail: [[raast]] (SBP).
Major Pakistani competitor: [[jazzcash]] (Mobilink Microfinance Bank + Jazz; 57M+ users; PKR 15T+ 2025 GTV — larger than Easypaisa).
Other Pakistani MFS competitors: NayaPay, SadaPay, UPaisa (UBL), HBLPay.
Regulator: State Bank of Pakistan (SBP) — Pakistan's first digital banking license (Jan 28, 2025).
Fun facts
- October 2009 launch — Pakistan's first mobile financial service.
- JV between Telenor Pakistan + Tameer Microfinance Bank originally.
- Ant Financial / Ant Group historical investor (later exited).
- January 28, 2025 rebrand to Easypaisa Bank Limited + Pakistan's first digital banking license.
- 18.2M users + 9.6M MAU + 2.8B 2024 transactions + PKR 9.5T 2024 value (+38% YoY) — substantial scale.
- Distinct from JazzCash (Easypaisa: Telenor; JazzCash: Jazz/Mobilink + MMBL).
- Pakistani branchless-banking pioneer — 2009 launch predates many global mobile-money platforms.
- Norwegian Telenor Group parent — European telecom ownership of leading Pakistani fintech.
Comparison
| Feature | Easypaisa | [[jazzcash]] (PK competitor) | [[bkash]] (BD) | [[m-pesa]] (East Africa) | [[gcash]] (PH) |
|---|---|---|---|---|---|
| Operator | Easypaisa Bank Limited (Telenor Pakistan) | MMBL + Jazz (VEON) | bKash Limited (multi-investor JV) | Vodacom + Safaricom JV | G-Xchange (Mynt) |
| Country | Pakistan | Pakistan | Bangladesh | East Africa | Philippines |
| Users | 18.2M / 9.6M MAU | 57M / 20.6M MAU | 82M+ / 70M | 66.2M | 81M |
| Annual transactions value | PKR 9.5T (2024) | PKR 15T+ (2025) | n/a | $315B (FY25) | n/a |
| Launch | 2009 (PK first) | 2012 | 2011 | 2007 | 2004 |
| Digital banking license | First in Pakistan (Jan 2025) | MMBL is digital microfinance bank | n/a | n/a | n/a |
| Major parent | Telenor Group (Norway) | VEON (Russia-headquartered originally; Pakistan ops) | BRAC Bank + IFC + Gates + Ant + SoftBank | Vodacom + Safaricom | Globe + Ant + Ayala + MUFG |
Status
Active, Pakistan's first digital bank [1, 3]:
- Easypaisa Bank Limited (formerly Telenor Microfinance Bank Limited) — Pakistan's first digital banking license, January 28, 2025.
- 18.2M total users + 9.6M MAU (late 2025).
- 2.8B+ 2024 transactions + ~PKR 9.5T value (+38% YoY).
- Parent: Telenor Pakistan + Telenor Group.
Sources
- 1 Easypaisa — Wikipedia
- 2 Telenor launches Easypaisa — MobileWorldLive
- 3 Easypaisa Bank Limited rating report — PACRA
- 4 What is Easypaisa — Easypaisa Guide
- pk-cro In-corpus:
reports/countries/PK-pakistan.md - raast-cro In-corpus:
reports/standards/raast.md
Source
Biography extracted from easypaisa.md. See matrix.md for standards-support matrix if present.