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.

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

What can you do with your Easypaisa Mobile Account?

• Utility Bills Payment
• Money Transfer to easypaisa account
• Money Transfer to a CNIC (Over The Counter)
• Schedule payments
• Cash Deposit
• Cash Withdrawal
• Transfer In from a Tameer Bank Account
• Transfer Out to a Tameer Bank Account
• International home transfer service

Easy paisa lunches "International Home Transfer" service

Tameer Microfinance Bank and Telenor Pakistan made another addition to the bouquet of easypaisa services with the launch of ‘International Home Transfer’ in collaboration with Xpress Money, UK.

The senders of funds from abroad can transfer the money through the wide network of Xpress agents present in more than 80 countries including United Arab Emirates, Kingdom of Saudi Arabia and United Kingdom.

A transaction ID will be generated on sending the amount which, along with the CNIC, are required to claim the funds through all Telenor Pakistan Sale & Service Centers, Franchises and Tameer Microfinance Bank outlets.