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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, Pakistan report. 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 P2M QR (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 Pakistan report: Ehsaas + BISP integration.

International remittance receiving Pakistan report: Pakistani diaspora to Pakistan flows.

Implementations & partners

Operating entity: Easypaisa Bank Limited.

Parent: Telenor Pakistan + Telenor Group (Norway).

National instant rail: Raast P2M QR (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

Source

Biography extracted from easypaisa.md. See matrix.md for standards-support matrix if present.

source · content/wallets/easypaisa/index.md