State Bank to Launch “Asaan Mobile Account” App for Universal Financial Transactions

Apps, apps and more apps. We are getting apps from everywhere and the trend continue across the world including Pakistan. Now the State Bank of Pakistan is also planning to launch a mobile app to allow financial transactions across the country. SBP Executive Director Syed Samar Hasnain announced this during an event, announcing the rebranding of Tameer Microfinance Bank to Telenor Microfinance Bank. The app will be titled “Asaan Mobile Account”.

This app will basically work as a sole platform for people with different bank accounts and mobile networks to conduct transactions with all. We are expecting to benefit from this tool in June this year. The interesting thing is that it will not be limited to smartphone only but in fact it will be available for the users of feature phones.

People could pay their utility bills, while firms could disburse salaries and pensions via that application. The application would also help people make payments to their dry cleaner, milk vendor, barber and etc. Transactions would definitely have financial limitation and caps, Mr. Samar stated.

With the help of this app you will be able to open your account within 2 minutes. The procedure will cost as little as Rs. 10, for verifying account details.

Telenor Microfinance Bank CEO, Ali Riaz Chaudhry said at the event that 100 million people in Pakistan are into some type of economic activity but 80 million of them don’t have bank accounts and access to money.

 

We have set a target of providing access to money and banks to some 50 million people in the next three-four years. 20 million people transferred money worth Rs200 billion via Easypaisa in the last one year, Mr Ali expressed.

 

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