Branchless Banking is 19 % Cheaper than Banks: Study

On average, the cost for carrying out transactions with mobile banking or other forms of branchless banking is 19% cheaper than charges of conventional banks; however the gap can further widen if branchless banks tend to lower their profits, revealed a study done by CGAP research that compared 26 branchless banking pioneers and traditional banks.

The study examined pricing for services targeting unbanked and underbanked poor people in 10 countries.

Study proposed that branchless banks should lower transactional charges to help spread the phenomenon of in-expensive banking.

Services analyzed:

• Afghanistan: M‐Paisa
• Brazil: Bradesco and Caixa
• Cambodia: WING Money
• Cote d’Ivoire: MTN Mobile Money, Orange Money
• India: Eko
• Kenya: M‐PESA and Zap
• Pakistan: easypaisa
• Philippines: GCash and Smart Money
• Tanzania: M‐PESA, Zap
• South Africa: MTN Mobile Money, WIZZIT

Study indicates that Easypaias is one of the most expensive branch-less service amongst the studied cases. It is said that this is due to less competition and cost may get revised. Study said that trend of service charges’ revision is seen higher during last 6 months.

Online Questionnaire on Mobile Banking

I heartily invite you to fill in the online questionnaire. Response needed from Mobile banking users(Easy Paisa and MCB Mobile) or potential customers of mobile banking in future. This is the link for online questionnaire:

https://spreadsheets.google.com/viewform?formkey=dGJwRWdjMktEcm53c2MxbkY3Qk5UMVE6MQ

The questionnaire consists of 25 multiple choice questions and you will need about 2-3 minutes to complete it.I am aiming for a sample population of between 70-100 (feel free to invite anyone who can participate). Participation is much appreciated

Workshop on Mobile Banking Opportunities & Challenges

National University of Sciences and Technology (NUST) School of Electrical Engineering and Computer Science (SEECS) is organizing a workshop on “Mobile Banking/Commerce Opportunities and Challenges” on October 12, 2010.

In Pakistan M-banking/Commerce is one of those fields which really need attention because in Pakistan with wide income divides, banking services are primarily for middle and upper classes but now more than 98 million people own a mobile connection.

Effects of m-banking on a common person will be analyzed and different individuals from the industry will share their experiences.

Registration Fee:

Professionals:	1000 RS
NUST Students:	Free
Students:	500 RS

Submit Registration Fee through pay order or bank draft. Bank draft and pay order should be in favor of “SEECS Consultancy Fund” Account # 22927000074501, Habib Bank Ltd NUST, H-12 Islamabad.

For details:http://seecs.nust.edu.pk/Seminars_workshops/pages/mbanking/index.php

MCB Mobile Account:

MCB Mobile is a quick, easy and secure way to top up mobile phone balances, transfer money, pay bills and do so much more. MCB’s globally recognized and award nominated mobile payments service allows existing account holders at MCB to conduct both non financial and financial transactions such as:

Fund Transfers
You can send money to anyone using MCB Mobile, by providing the complete 16-digit MCB account number or the 13 -digit ATM card number of the beneficiary. (Beneficiary does NOT have to be a registered MCB Mobile user).

You can also send money using the beneficiary’s mobile phone number registered with MCB Mobile. (Beneficiary needs to be a registered MCB Mobile user)

Purchase Top-ups for Prepaid Connections
You can now conveniently purchase prepaid airtime and top-up the credit in your or someone else’s mobile phone for all of following mobile connections:

• Mobilink
• UFone
• Zong
• Warid Zem
• Telenor

Pay your Postpaid Mobile bills
You can forget about the hassle of paying your post-paid mobile bills through customer service centers. Pay your post paid bills through MCB Mobile conveniently at anytime for any of all mobile companies:

Pay your Utility Bills
MCB Mobile allows you to make payments for a host of utility companies, schools and clubs among other recurring payment services.
Currently supported companies are:

• KESC - Karachi Electricity Supply Company
• HESCO - Hyderabad Electricity Supply Company
• SSGC - Sui Southern Gas Company
• SNGPL - Sui Northern Gas Pipeline
• PTCL - Pakistan Telecom Communications Limited
• IESCO - Islamabad Electric Supply Company

Make your MCB Visa Credit Card Payments
You can now make your MCB Visa Credit Card payments easily through this service. You have the option of paying a minimum payment, more than minimum or the full amount.

Maintain Favorites
Registered MCB Mobile users can manage their favorite payees i.e. add or remove utility companies or individual account holders to whom payments and fund transfers are made frequently.

Report a Lost ATM card

Registered MCB Mobile users can report their card as lost using the service. The ATM card will automatically be de-activated for a period of 24 hours.

Make Donations
You can make donations to your favorite charities through this service in a matter of seconds. Donations to the “Prime Ministers Fund of Internally Displaced Persons” are being accepted. More charities will be added in the near future.

Easypaisa Mobile Account:

Easypaisa Mobile Accounts are actual bank accounts and work just like a normal bank account. This service is available only for existing and new Telenor subscribers. Easypaisa Mobile Account can be opened from any Telenor Sales and Service Centers, Telenor Franchise or Tameer Bank branch. Telenor subscribers will now be able to pay bills, transfer money and use many more services from their own mobile phones, anytime, anywhere. Once an easypaisa Mobile Account is opened, users can go to any of the thousands of easypaisa shops and Tameer Bank branches in Pakistan to 'Deposit Cash' into or 'Withdraw Cash' from their easypaisa Mobile Account.

Product Features:

• Instant access to your Mobile Banking Account anytime, anywhere Any Telenor current or new subscriber can open a Mobile Account. No prior Bank Account is needed; anyone with a Telenor SIM can avail and use this service
• Send money to any person with a valid NADRA CNIC or to any other easypaisa Mobile Account. Utility bills can also be paid instantly from an easypaisa Mobile Account
• Cash Deposit into a Mobile Account or Cash Withdrawal from any Mobile Account can be done at many easypaisa merchants in more than 450 cities in Pakistan
• The following transactional limits apply to all easypaisa Mobile Account, as regulated by the State Bank of Pakistan. Rs. 10,000 per day, Rs. 20,000 per month and Rs. 120,000 per year. These limits apply on both credits and debits in a Mobile Account
• A customer can only keep a maximum of Rs. 60,000 in his easypaisa Mobile Account at any time
• Sunday or Monday you can do transactions any day, anytime from anywhere. No more travelling, or no more waiting in long queues
• Secure Encrypted Transactions based on GSM standards and State Bank of Pakistan regulations
• Dedicated customer helpline / support available 24/7 (Easy paisa, n.d.).

LIST OF SERVICES PROVIDED BY MOBILE BANKING PROVIDERS IN PAKISTAN

Services	Easy paisa	MCB mobile banking
Money transfer	To easy paisa mobile a/c (s), CNIC	To all bank a/c(s)
Cash deposit	Accepted by easy paisa shops	Accepted by MCB
Cash withdrawl	Avaiable on easy paisa shops	Atm, Mcb branches
Balance inquiry	Avaiable	Avaiable
Utility bills	Avaiable+Charges	Avaiable
Other bills	Avaiable	Avaiable
Mini statements	Avaiable+Charges	Avaiable
Schedule payments	Avaiable	Avaiable
Pin management	Avaiable	Avaiable
Mobile recharge	For telenor customers	For all mobile companies
Transaction limits	Transaction Limits Apply on Sending/Receiving.	No limits
Transaction charges	Transaction charges +16% FED is applicable on banking services charges	No Charges

MCB Mobile Money Service Nominated Best in World

Mobile World Congress has nominated MCB Mobile, a service launched by the MCB Bank in 2009, as the best across the world.

The nomination was an acknowledgment for the recently launched innovative mobile banking solution by the MCB Bank and GSM Association (GSMA), said a press release.

Other mobile payment services nominated were from South Korea (t-cash), Philippines (Smart Money) and Kenya (m-paisa). MCB Mobile is the only bank-led mobile payments service nominated for this contest.

The GSMA Awards are known as the “Oscars” of the mobile industry and it is a yearly event held in Barcelona. More than 2,400 members of the press attended the event, representing more than 1,500 media groups from 76 countries.

MCB Bank Limited President and Chief Executive Officer Atif Bajwa said that the bank remains committed to broaden the access of financial services to a sizable population in Pakistan owning mobile phones and without bank accounts.

“This nomination is a source of great pride not just for the MCB bank, but for the country, as well”