Summit Bank and Easypaisa have signed a strategic alliance which will give the customers access to Easypaisa’s vast network of collections and disbursements, e-commerce payments and social cash transfer.
According to a latest UK report, more bank branches are closing there as more people are moving towards digital banking. Digital Banking incorporates new technology to provide enhanced customer services effectively and efficiently. It goes beyond mobile banking.
The partnership was signed by President and CEO of Summit Bank Mr. Muhammad Zahir Esmail and Mr.Muhammad Yahya Khan, Head of Easypaisa. Speaking at the signing ceremony, Muhammad Yahya said that their vision is to create an ecosystem that drives digital financial inclusion in a convenient and accessible manner. Mr. Zahir said,
“With the growing importance of digital banking, it is important for banks to create an ecosystem and facilitate the customers and service providers. This is a step in the right direction to create unprecedented customer convenience.”
“This arrangement falls within the pursuit of our vision to become a truly digital bank. Summit Bank customers will now have more than 77,000+ Easypaisa touchpoints to avail a range of innovative products and services,” Mr. Adnan Ali, Head Payment Systems, ADC, & Digital Banking added.
Summit Bank is one of the biggest banking networks in Pakistan. The old name of the bank was Arif Habib Securities Limited, which was later rebranded in 2010 as Summit Bank Limited. There are hundreds of branches in Pakistan now. Recently, Summit Bank has joined hands with Keenu NetConnect, a payment network that gives secure and reliable access to online shopping.
Easypaisa is Pakistan’s first and largest branchless banking network, introduced by Telenor Pakistan and Tameer Microfinance Bank in 2009. It is world’s third largest branchless banking service. It provides mobile banking, secure payments, money transfer and more. Recently, it won London’s ‘Most Innovative Financial Technology 2016’ award.