The Telenor Microfinance Bank which is the country first scheduled microfinance bank and the operator of the country’s leading digital payments platform Easypaisa has received an investment of US$45 million from its shareholders Telenor Group and Ant Group Co., Ltd. (Ant Group). The Bank’s capital position has further been bolstered by the investment from the shareholders and placed the organization on an upward trajectory to maintain its growth in the mobile payment area of Pakistan.

To address the low-level financial incorporation in the country, Telenor Microfinance Bank concentrates on innovative technology and thorough research and development, and these areas will see a notable rise after the investment from the shareholders.

Telenor Microfinance Bank, Being the leader of the fintech revolution in Pakistan, is rendering the best services to millions of consumers in the country. The Bank continues and struggles to work towards financially enabling Pakistanis through a robust portfolio of credit solutions and its unprecedented digital payment platform, Easypaisa.

The COVID-19 pandemic has come as a strong signalled to businesses and individuals not just in Pakistan but around the world that a digitally-enabled landscape for payments is a necessity. The Bank has been working on improving financial inclusion ratios within the country through the introduction of excellent services and a range of innovative financial solutions that are easily accessible to the masses.

Irfan Wahab Khan, Chairman, Board of Directors, while comment on the development Telenor Microfinance Bank, stated that a significant shift is being witnessed in the way people transact and conduct business. The world is shifting towards digitalization and access to suitable financial services is what customers wants. As pioneers of mobile banking in Pakistan, Telenor Microfinance Bank strives to make a  permanent impact in the financial landscape of  the country. The Bank is fast moving towards building a digitally enabled economy for Pakistan where the benefits reach everyone at all levels.

CEO, Telenor Microfinance Bank/Easypaisa, M. Mudassar Aqil, said that since its inception, Telenor Microfinance Bank has achieved significant breakthroughs and has played a major role in serving the un-banked and the under-banked segments of the society. Our ambitions have been clear ever since. We are dedicated to transforming the lives of Pakistanis by the power of digital finance. In this respect, we are very gratified to have the support from our shareholders through another sizable equity injection that cements our commitment to contributing towards Pakistan’s financial sector and places us for continued growth in the future.

Telenor Microfinance Bank remains committed through the power of collaboration and technology,  to allow individuals and businesses over Pakistan to adopt the digital way of life.