Digital Banking is Trending during the Nationwide Lockdown

The use of digital platforms for banking transactions has seen tremendous growth in the recent Covid-19 pandemic crisis.

Pakistan is going through a bamboozling period with the Covid-19 pandemic, while the banks are playing an active role in providing the masses with various financial solutions by encouraging the large-scale use of digital banking.

As per the data released by the Telenor Microfinance Bank, Easypaisa has witnessed new activations rise by 35%. Old customers who renewed the service have increased by 25%. After the lockout, the number of regular transactions from the Easypaisa application has risen by 17%.

Bank transfers also increased by 184 percent, and airtime and bundle subscriptions grew by around 15 percent in overall transactions.

Collaborations with various organizations such as Punjab Government Department Zakat and Ushr, Pakistan Bait-ul-Mal, and other poverty alleviation programs were also made possible with the goal of creating a cashless society for a digitally inclusive Pakistan.

Meanwhile, the Easypaisa service has collaborated with leading organizations to facilitate digital direct payments that reduce the cash position in the economy as well as Covid-19’s potential spread.

In addition, the Easypaisa App has introduced a range of unique and creative features such as live Corona alerts, health service, and other apps that support users greatly. These options along with the ability to move money, obtain foreign remittances, purchase airtime or data packages, make bill payments and donate to numerous charity initiatives have allowed users to continue their daily lives despite strict lockdowns across the world.

Tags
Show More

Pak Revenue

A reliable source for business, taxation & financial news, covering incentives for CPEC, automobile and performance of stock and mercantile exchanges.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Close