Easypaisa, a popular money transferring service originally launched by Telenor Pakistan, is formally parting its way from the telecom operator to become sole proprietorship of Tameer Bank. With this move all the mobile financial services division will come directly under the authority of the bank.

Ali Chaudhary, the President and CEO of Tameer Bank will also head Easypaisa and report directly to Telenor Group. Tameer Bank was acquired by Telenor Group a couple of months ago.

As soon as the reshuffle process gets completed, Easypaisa will have nothing to do with Telenor Pakistan. After this transfer, Easypaisa will have its own digital agency, PR agency and various vendors that it requires for its routine operations.

For the time being Eaisypaisa might use Telenor Pakistan’s office space in some cities. The integration of Telenor Pakistan and Easypaisa may remain intact for now. Though both entities will start charging each other for services that they would obtain down the line.

Easypaisa being Pakistan’s pioneer branchless banking service has been instrumental in transforming the banking and finance outlook of the country through ground-breaking products and services.

It has played a pivotal role in bringing swathes of unbanked population into the fold of banking services through its initiatives aiming at strengthening financial inclusion in Pakistan.