"Easypaisa enjoys the continuous and persistent support from top management"
Pakistan has one of the better defined regulations to undertake an investment in a hybrid mobile money transfer (MMT) project such as the new Easypaisa financial services model, which was jointly launched by Tameer Bank and Telenor last year. This is according to Ali Abbas Sikander, Group Executive Director of Operations and Technology at the Tameer Microfinance Bank in Pakistan. Mr Sikander is one of the high-level speakers at the upcoming MMT Global 2010, the industry's leading, annual event in Dubai from 24 to 27 October.
Planning and support
Since launch in October 2009, Easypaisa has processed over 5-million transactions worth $95-million. Mr Sikander says "Easypaisa promises outreach greater than the conventional banking with a combination of non-banking agent locations and using mobile phones by customers and agents as delivery channel."
Careful planning and prior to the launch was part of the success of the new service: "since it is a hybrid model, it was important to set up a transparent governance structure since the responsibilities across the value chain crossed two separate legal entities regulated by different regulators." He continues: "The selection of agent and its location was also very important in order to keep them adequately close to the conventional banking network to provide cash management and liquidity to the agent network."
Protection for agents, customers and business
According to the Tameer Group Executive Director, another lesson learnt from the Easypaisa launch was to learn to trust the strengths of the partners in the business. "We also set up an operational risk management structure from day one to protect the agents, customers and the business. Furthermore, Easypaisa enjoys the continuous and persistent support from top management."
Mr Ali Abbas Sikander views the future of Mobile Money technology in Pakistan as "very encouraging as serious players are entering the market which has all the makings of the demand typically required for such an intervention. Regulations are robust with some room for improvement."
Highlights in the MMT Global Conference programme include:
· The MMT Awards which will be given to the leading operators in the industry.
· MMT and the global economic downturn. Remittance reduction and the impact on MMT services. Is there light at the end of the tunnel with economic recovery in sight?
Emiko Todoroki, Senior Financial Sector Specialist, World Bank
· Safaricom - leading the way in combating mobile money fraud on M-PESA
Michael Joseph, CEO, Safaricom
· Addressing Etisalat's mobile money offering and bank partnership model
Rashed Majed Alabbar, Director, Mobile Commerce, Etisalat
· Multi channel/multi segment mobile banking in Qatar
Julian Phillips, General Manager mCommerce, Commercial Bank of Qatar
Eckhard Ortwein, Area VP mCommerce, Sybase 365
· Understanding the differences of launching mobile money in a competitive market compared with markets where you have first mover advantage
Nicholas Levi, Orange Money Director, Orange-France Telecom
· Building a dynamic gateway for mobile money remittances by initiating partnerships and business opportunities across the ecosystem
Morten Hofstad, Regional Director Middle East and Northern Africa, Luup International Ltd
Event website:www.mobile-money-transfer.com/global
Event dates and location: 24-27 Otober 2010, Intercontinental, Festival City, Dubai, UAE
-Ends-
For more information please contact:
Event Director
Steven Clarke
Phone: +44 (0) 20 7067 1832
Tel: +44 (0) 20 7067 1832
Email: steven.clarke@clarionevents.com
© Press Release 2010
