easypaisa and Transsion announce app preload deal for 5 million phones

easypaisa, Pakistan’s first digital bank to begin commercial operations, and smartphone maker Transsion have agreed to pre-install the easypaisa application on more than five million new phones sold under Transsion’s Infinix, TECNO and itel brands in Pakistan. The agreement was signed in Islamabad by Farhan Hassan, easypaisa’s chief digital officer, and Michael Wang, vice president for global partnerships at Transsion.

The arrangement means buyers of those handsets will find the banking app already on their device when they first switch it on. Users will be able to open accounts, transfer money and pay bills without downloading the app separately. easypaisa said the step is aimed at people who have not used banks or formal financial services, including many who are getting a smartphone or mobile internet for the first time.

ProPakistani reported that 3G and 4G device uptake in Pakistan has reached 71.6 percent. The outlet said the deal is expected to strengthen customer acquisition, increase app penetration and push more engagement with formal finance.

Farhan Hassan said in a statement that the partnership would simplify access to financial services. 'At easypaisa, our mission has always been to simplify access to financial services and create opportunities for every Pakistani,' he said. He added that embedding access directly onto smartphones removes barriers and brings more people into the formal financial system.

Muhammad Abdul Qadeer, country manager for Transsion Pakistan, said the collaboration combined technology, scale and local market understanding, and would make financial inclusion 'a natural part of the smartphone journey.'

easypaisa, which said it has more than 60 million registered users, said the pre-installation initiative is aligned with the State Bank of Pakistan’s vision for inclusive economic growth. The company has been expanding its products as Pakistan’s first digital bank to commence commercial operations.