Tag Archives: MMT

MCB Wins Award for Best Mobile-Banking Services

MCB Pakistan mobile-banking services has won an award for best bank-led mobile money transfer programme in the first world’s Mobile Money Transfer (MMT) Awards ceremony held recently.

The bank won the award on the best subscription and adoption rates as well as the market entry strategy and customers’ responses.

The MMT award aims to recognize and reflect the rapid emergence of this new sector in all its varied forms. The entry was open to all players in the ‘Mobile money transfer’ eco-system. This year’s awards brought together mobile money project leaders from 53 different countries, representing key stakeholders the world over.

MCB transacted amount reached more than Rs 3.05 billion since the launch of mobile-banking services in July 2009. The number of transaction carried were 2 million over the same period of time.

MCB mobile-banking services are specified for its account holders enable of making payments and view balances directly from their accounts via mobile phones or any device connected to the internet.

MCB has also been nominated for the GSMA and Banker Magazine awards for mobile-banking services.

Majority of the customers used the services for utility bills payment, money transfer of money within the country.

Besides, services of international remittance transfer, purchase of as life insurance and protection policies, mini statements and balance inquiries, donations, visa and mobile phone pre-paid cards payment are carried out through MCB mobile-banking services.

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Telenor Easypaisa Wins Best MMT Entrant of the Year Award

Easypaisa has won the award for ‘Best Mobile Money Transfer Entrant of the Year’ at the world’s first Mobile Money Transfer (MMT) Awards held in Dubai last week, making it the year’s best service of its kind in the world.

The service was pitted against some of the world’s leading mobile financial service providers such as Vodafone and Safaricom.

In the winning category, easypaisa competed against Grameenphone, Banglalink and Vodafone to win the award. It was also the only service nominated by the jury in three of the six categories; the two other categories being ‘Most Inventive Marketing Campaign’ and ‘Achievement in Financial Inclusion’.

Pakistan’s first real branchless banking solution easypaisa was launched jointly by Telenor Pakistan and Tameer Microfinance Bank Limited last year. The service is now available at more than 11,000 agents across Pakistan. With more than 500,000 unique users in the last month alone conducting more than 1 million transactions with a value of Rs2 billion in throughput, easypaisa is helping to provide people across Pakistan with much needed financial services.

Roar Bjaerum, VP Financial Services, Telenor Pakistan speaking about the win, said:

The award is recognition of the uniqueness and the early success of the easypaisa portfolio of services. Telenor Pakistan is committed to offering secure and reliable mobile financial services to the people of Pakistan. By doing so we aim to bring empowerment and convenience to everyone, enabling them to carry out financial transactions whether in urban areas or rural communities

Ali Abbas Sikander, Group Executive Director Technology & Operations, Tameer Micro Finance Bank Limited, commenting on winning the award said:

We are honored. While easypaisa is one of the most revolutionary services to come out of Pakistan’s banking and telecom sectors, it is also timely. The World Bank estimates the domestic transfer volume at close to $7 billion a year. Through easypaisa we aim to target current users of domestic remittance services. In addition, we aim to help bring a portion of the $2 billion to $4 billion transacted through informal channels into the mainstream

Abbas said that the State Bank of Pakistan, too, has provided a favorable regulatory environment for the promotion of innovative financial services. In a recent international study conducted by the Economist Intelligence Unit, Pakistan has been listed as number 5 in the world in terms of overall business environment for microfinance, and number 1 in terms of regulatory environment.

The Mobile Money Transfer Global Conference & Expo, where the award was announced, was held in Dubai from October 24-27 and attracted 500 participants from more than 50 countries. It is recognized as the industry’s definitive category event.

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