# Easypaisa

> Source: https://docs.barcoder.ai/docs/wallets/easypaisa
> research date 2026-05-29 · extracted at 2026-10-07
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [Easypaisa — official](https://easypaisa.com.pk/)
- [Easypaisa — Wikipedia](https://en.wikipedia.org/wiki/Easypaisa)

## 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** <sup>[1][1], [2][2], [Pakistan report](https://docs.barcoder.ai/docs/payments/PK)</sup>. **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** <sup>[2][2]</sup> as joint venture between **Telenor Pakistan + Tameer Microfinance Bank** — Pakistan's first mobile financial service.

**2010-2018 — Mass Pakistani adoption + branchless banking pioneer** <sup>[2][2]</sup>: USSD + agent-network-driven.

**2017-2019 — Ant Financial invests in Telenor Microfinance Bank** <sup>[2][2]</sup>: Strategic Chinese fintech alignment (Ant later exited).

**2020-2024 — Smartphone app + super-app expansion** <sup>[1][1]</sup>: Beyond USSD into multi-product fintech.

**2024 — 13M+ Telenor Microfinance Bank users + 16.2M Easypaisa MAU + +23% YoY** <sup>[1][1]</sup>.

**January 28, 2025 — Rebrand: Telenor Microfinance Bank → Easypaisa Bank Limited** <sup>[3][3]</sup>: SBP commercial operations approval as Pakistan's first digital bank.

**Late 2025** <sup>[1][1]</sup>:
- **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** <sup>[1][1], [2][2]</sup>:

| Layer | Description |
|---|---|
| **Channels** | **USSD (\*786#) + Easypaisa app** (iOS + Android) |
| **Identifiers** | Phone number + QR code + CNIC (Pakistani national ID) |
| **National instant rail** | **[Raast P2M QR](https://docs.barcoder.ai/docs/standards/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)** <sup>[1][1]</sup>:
- **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** <sup>[1][1]</sup>: Cardinal use — phone-number-addressed via Raast.

**Cash-in / cash-out via agent network** <sup>[2][2]</sup>: Pakistani physical-network reach.

**Bill payments + utilities** <sup>[1][1]</sup>: Pakistani services.

**Mobile credit + data top-ups (Telenor primary + cross-MNO)** <sup>[1][1]</sup>: Multi-MNO support.

**Digital banking (since Jan 2025)** <sup>[3][3]</sup>: Deposits, savings, credit, investments via Easypaisa Bank Limited.

**Merchant QR payments via Raast** [[raast-cro]]: Pakistani merchant acceptance.

**Government social-payment disbursement** <sup>[Pakistan report](https://docs.barcoder.ai/docs/payments/PK)</sup>: Ehsaas + BISP integration.

**International remittance receiving** <sup>[Pakistan report](https://docs.barcoder.ai/docs/payments/PK)</sup>: Pakistani diaspora to Pakistan flows.

## Implementations & partners

**Operating entity**: **Easypaisa Bank Limited**.

**Parent**: **Telenor Pakistan + Telenor Group (Norway)**.

**National instant rail**: **[Raast P2M QR](https://docs.barcoder.ai/docs/standards/raast-p2m-qr)** (SBP).

**Major Pakistani competitor**: **[JazzCash](https://docs.barcoder.ai/docs/wallets/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](https://docs.barcoder.ai/docs/wallets/jazzcash) (PK competitor) | [bKash](https://docs.barcoder.ai/docs/wallets/bkash) (BD) | [M-Pesa](https://docs.barcoder.ai/docs/wallets/m-pesa) (East Africa) | [GCash](https://docs.barcoder.ai/docs/wallets/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** <sup>[1][1], [3][3]</sup>:
- **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]: https://en.wikipedia.org/wiki/Easypaisa "Easypaisa — Wikipedia"
[2]: https://www.mobileworldlive.com/old_latest-stories/telenor-launches-easy-paisa-mobile-accounts-in-pakistan/ "Telenor launches Easypaisa — MobileWorldLive"
[3]: https://www.pacra.com/rating-report/MTQzNzA= "Easypaisa Bank Limited rating report — PACRA"
[4]: https://easypaisaguide.in/what-is-easypaisa/ "What is Easypaisa — Easypaisa Guide"
[pk-cro]: https://docs.barcoder.ai/docs/payments/PK
[raast-cro]: https://docs.barcoder.ai/source/standards/raast

- [1] [Easypaisa — Wikipedia][1]
- [2] [Telenor launches Easypaisa — MobileWorldLive][2]
- [3] [Easypaisa Bank Limited rating report — PACRA][3]
- [4] [What is Easypaisa — Easypaisa Guide][4]
- <sup>[Pakistan report](https://docs.barcoder.ai/docs/payments/PK)</sup> In-corpus: `reports/countries/PK-pakistan.md`
- [raast-cro] In-corpus: `reports/standards/raast.md`

## Source

Biography extracted from [easypaisa.md](https://docs.barcoder.ai/source/wallets/easypaisa). See `matrix.md` for standards-support matrix if present.