"The Easypay service is particularly beneficial for online merchants by allowing them to make all their settlements on a single account with real-time notifications", said Malik, adding that Easypay also offers the lowest service charges compared to existing direct and indirect payment collection processes. Malik stated this while talking to media persons here on Thursday.
He further said nine merchants have already integrated while expecting 30-40 merchants by the end of next month, where all the rules and regulations of the State Bank of Pakistan have been followed. These benefits have triggered a rapid uptake of Easypay with some of the most popular online stores like, homeshopping.pk, tohfay.com and onlinebazaar.pk already on board and offering exciting discounts on choosing Easypay as a mode of payment online.
Moeen Malik said that Easypay would help in reducing the cost of doing business including rent, security charges, electricity bills as the merchants could easily run their business by keeping their inventories at home or warehouses. He further said that current online shopping in Pakistan is about $30 million against $1.5 billion in India. Pakistan's first and largest branchless banking service and a joint venture between Tameer Microfinance Bank and Telenor Pakistan, Easypaisa has developed the first end-to-end online payment solution to facilitate different payment options for online merchants and their customers. Easypay bundles secure, centralised and convenient payments available on easy to plug-in APIs, with widespread access through multiple channels, and value added services like advanced analytics and reporting, to become the first complete payment suite in Pakistan.
Malik said Easypay provides multiples ways of making payments for online shoppers. Customers can pay directly to an online merchant through their Easypaisa mobile account, or they can make payments at any of the 65,000 Easypaisa shops across Pakistan. They can also use their credit/debit cards safely and with no added cost through the Easypay platform.
Malik enlisted some of the facilities of Easypay for merchants including instant payment notification (our system sends out a message to the merchant system when the payment is complete), secure payment page for all Credit card payments (to ensure credit card details are not entered on merchant websites), instant reporting and analytics dashboard for merchants, cheaper than all the available options today and even COD (on average COD costs online merchants in excess of 3%), The service will also provide facilities to customers including a trusted, secure, convenient and reliable service for payments, no additional charges, serves all customers 7.5 million registered Easypaisa mobile accounts, anybody at the 65,000 Easypaisa shops across Pakistan and anybody with a Credit/Debit card, access to make payments at 65,000 Easypaisa shops present in more than 800 cities across Pakistan discounts when paying through Easypay.
He said Easypay is Pakistan's first online payment solution which can turn out to be a significant contributor to promoting E-commerce in Pakistan. It is very convenient for merchants to integrate their online stores with the solution. It is a complete solution providing customers the convenience of paying through Easypaisa mobile accounts, Easypaisa shops and Debit/Credit cards. The solution has no set-up charges or annual changes for the merchants.