Telenor Faces Challenge As Mobilink Starts Mobile Banking
Waseela bank has been bought by Orascom Telecom which is going to start branchless bank services under the action of Mobilink and it has been confirmed by the Mobilink itself.
Mobilink wants to offer mobile banking service in Pakistan but when the deal of Mobilink with RBS failed and a lot of hurdles now-a-days have brought Mobilink far away from its wish and now it is going to take a lot more time to launch this service in Pakistan.
It has been known from other sources that buyout of a microfinance license having a price tag of Rs. 1 billion has recently been completed by Mobilink. A team has been established to control all the financial services. The preparation for its launch is at the peak and they are trying their level best to launch it in fall of this year.
Mobilink Money Transfer Vs Telenor Easy Paisa
Mobilink is going to give competition to Telenor easypaisa by starting a money transfer service with branchless accounts and it is the first real competition to Telenor. Mobilink is also going to offer other banking services to its users which include merchant accounts and life insurances and many more.
It can prove to be very beneficial to offer financial services, while having a severe competition in the telecom industry and in Pakistan less than 10% of population maintains their bank accounts.
Consumers with limited service are very helpful for the humongous sales and support network of telecom operators especially in rural areas of the country.
Same service was first started by Telenor and with help of it has carried out the transactions of more than Rs. 10 billion within a period of 2 years.
Mobilink has got some advantage from the Telenor easypaisa that it won`t have to start from the beginning. The users are already quite aware of this branchless banking.
In order to persuade the customers to it Mobilink will have to introduce it with some extra features in it.
It is the same Mobilink waseela whose ad was leaked during the last year in April. It will now easily be seen on TVC`s again very soon.