Easypaisa, the biggest branchless banking network of Pakistan, has bagged London’s “Financial Innovation Award 2016” in the category of ‘Most Innovative Application of Technology‘.
Financial Innovation Awards (FIA) are presented by London institute of Banking and Finance (LIBF), in order to recognize the efforts of companies in the financial services. There are about 19 award categories. A panel of judges assesses all the candidates. Easypaisa is the only Pakistani company which made it to the top five finalists and won the award. LIBF website states,
“Located in shops in over 800 towns and cities, Easypaisa now has the largest financial footprint in the country and moved nearly 3% of GDP in 2015.”
Easypaisa is Pakistan’s first branchless banking solution, launched jointly by Telenor and Tameer Microfinance Bank in 2009. It is world’s third largest branchless banking service. It provides mobile banking, secure payments and money transfer and more. It also won ‘Wall Street Journal’s Financial Inclusion Challenge’ in 2015. Easypaisa also won ‘Best Mobile Money Service’ award at the annual GSMA Awards in Barcelona in 2014. Muhammad Yahya Khan, Head of Easypaisa, commented on FIA win,
“It is a great honor for Easypaisa to be a globally recognized mobile money service. We deem this award a testament to the trust our customers have in us and the recognition of our efforts in capitalizing technology for positive social change.”