Telenor Pakistan, the country's number two mobile operator, has recently purchased a bank and is now using its banking license through its network of franchisees and top-up agents to offer banking services to Pakistan's largely unbanked population, with savings, insurance and international remittance soon to follow.
Remote Telenor Franchise in the misty hills of Dungagali, Pakistan. Telenor has 150,000 franchisees. Some 20-30,000 of these will be upgraded and trainedto offer EasyPaisa microfinance to the unbanked majority in Pakistan.Known as EasyPaisa, the idea by Telenor and the State Bank of Pakistan is to find a sustainable, profitable new banking model to help the billions in developing countries break out of the cycle of poverty by providing them with low-cost, convenient financial services.
In an exclusive interview, Roar Bjaerum, Telenor Pakistan Vice-President for Financial Services, and Arif
Abdul Qayyam, Telenor Pakistan Director for Financial Services, explained the history of this innovative project.
