From Phone Shops to Digital Bank: The Rise of Easypaisa and What’s Next

Pakistan: Easypaisa, which began as a mobile money service in 2009, has grown into one of Pakistan’s largest digital banks with over 60 million users. Telenor Pakistan, which entered the country in 2004 as a telecom operator, acquired a majority stake in Tameer Microfinance Bank and launched Easypaisa to serve the unbanked population through its vast retail network of phone shops and agents. Over the years, investments such as Ant Financial’s $184.5 million in 2018, along with the rise of smartphones and digital payments, helped transform Easypaisa into a full-fledged digital bank. Now, with reports suggesting Telenor may consider selling its stake, questions are being raised about the future direction of the platform.