On the second day of the AMC-8 conference, organized by the Pakistan Microfinance Network, a key panel discussion on “The Role of Digitization in Promoting Access to Finance & Savings as a Tool for Achieving Scale” took place. Shahzad Khan, Group Head Channels & Corporate Business at TMB/easypaisa, was among the distinguished speakers, sharing insights into how mobile banking has revolutionized financial inclusion in Pakistan.
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Shahzad highlighted that Pakistan is home to around 100 million unbanked people. Easypaisa, launched in 2009, has been instrumental in bridging this gap. Initially offering domestic remittance services, easypaisa has since expanded to cover utility bill payments, addressing crucial needs of the unbanked population. Shahzad further revealed that easypaisa now serves 45 million users, with women making up 30% of the user base, and processes transactions amounting to approximately 7% of Pakistan’s GDP. The platform is now focused on digitizing retail payments and utilizing transaction data to provide credit services to individuals and MSMEs.
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The panel featured representatives from the State Bank of Pakistan, microfinance banks (MFBs), microfinance institutions (MFIs), and tech-driven non-profits, all working towards building a digitally inclusive Pakistan. As the AMC-8 concluded, stakeholders reaffirmed their commitment to innovation and collaboration, aimed at creating a financially inclusive future for millions of Pakistanis.
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