Easypaisa introduces an easy and convenient School Fee Payment Solution

ISLAMABAD – June 30, 2016: Pakistan’s first and largest mobile financial service, Easypaisa, has successfully launched the Easypay school fee payment solution to benefit educational institutes, students and parents through digitizing payments.

With Easypay, Easypaisa enables parents and students to pay online with the convenience of choosing the payment option that best suits their need. Parents and students can now simply log on to the institute’s website and provide the roll number, against which the system will automatically fetch the payable fee amount. They can then choose to pay via their Easypaisa Account, pay with any VISA or MasterCard credit/debit card or pay at any of the 75,000 Easypaisa agents across Pakistan.

With no digital fee payment solution, parents had to visit their bank branch or an ATM to withdraw cash, and then deposit the cash and fee challan at the designated bank branch of the educational institute. This hectic exercise often required the parents to take time off from work, travel to the designated bank branch and stand in long queues within the limited banking hours on the fee submission date.

Muhammad Yahya Khan, Head of Easypaisa, said, “Any parent can attest to the fact that paying their children’s school fee is a time-consuming and outright painful monthly ritual in Pakistan. Easypay school fee payment solution saves time, money and energy of all parents and students by providing them digital solution to paying their children’s fee online and real time and thus providing ultimate convenience.”

For schools that sign up, Easypay offers instant settlement, real-time updates, detailed reporting, and easier bookkeeping. It also allows for major cost savings in the form of staff employed for cash handling, accounting, deposits, reconciliation etc. This is a win-win situation for the parents and the educational institute.

Easypaisa’s goal is to digitize all school fee payments in Pakistan. Currently, Easypay has relationships with Roots Millennium Schools, Edopia School, Al-Huda International Schools, Virtual University and SZABIST University for fee payment collection.

About Easypaisa

Pakistan’s first and largest branchless banking solution, Easypaisa, was launched jointly by Tameer Micro Finance Bank and Telenor Pakistan in 2009 until recently Norwegian-based Telenor group, which owns Telenor Pakistan, completed the acquisition of Tameer Bank.

Easypaisa has the largest financial footprint in Pakistan with over 75,000 Easypaisa shops in more than 800 cities across the country. Nearly 650,000 transactions are conducted on Easypaisa every day by 21 million active customers. In 2015, Easypaisa moved nearly 3% of Pakistan’s GDP. Easypaisa has the largest product portfolio of services for its customers including remittances, payments, savings and insurance and offers ATM cards and IBFT services that work with all banks connected through 1-Link in Pakistan. In February 2014, out of more than 250 Mobile Money services around the world, Easypaisa was awarded two GSMA Awards, including the “Best Mobile Money Service in the World” at the Mobile World Congress, Barcelona, Spain.

For more information, visit www.easypaisa.com.pk

About Tameer Microfinance Bank Limited:

Tameer Microfinance Bank Limited (TMFB) is the first scheduled and largest Microfinance Bank in Pakistan and a part of Telenor group. Incorporated in 2005, it provides micro‐finance and related financial services to the less privileged and unbanked segment of the society with an aim to contribute towards poverty eradication under the Microfinance Institution ordinance, 2001. In 2009, Easypaisa was launched jointly by Tameer Micro Finance Bank and Telenor Pakistan. Tameer Bank currently has 176 customer touch points and 75,000+ agents nationwide offering a range of financial services including Deposits, Loans, Mobile Accounts, Health Insurance, Remittances, Cash management services, Bank on Wheels. . Based on the results for the year ended 31 December 2015, the credit rating company JCR-VIS has reaffirmed the long-term entity rating of Tameer to “A+” (Single A Plus) [Previous: “A”] while maintaining the short-term rating at”A1″ (A One). Outlook on the assigned rating is ‘Stable’ as of April 28th, 2016.

For more information, please visit: http://www.tameerbank.com

About Telenor Pakistan

Telenor Pakistan is a provider of high quality telecommunication services in Pakistan since 2005. It has over 37 million subscribers, over 3,000 employees and a nationwide network.

For more information, please visit: www.telenor.com.pk