Wednesday, June 19, 2024

easypaisa Enables in-app QR Payments for Sale, Purchase of Sacrificial Animals this Eid-ul-Azha

easypaisa is bringing ease and convenience to its users this Eid-ul-Azha for the sale and purchase of sacrificial animals through its very own in-app Raast-based QR code payment mechanism.

The initiative is part of the State Bank of Pakistan’s (SBP) QR code payment system under the Raast instant payment service, aimed at facilitating the public and traders alike during the sale and purchase of sacrificial animals.

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SBP to Introduce QR Code Payments for Eidul-Azha Animal Purchases

Eid-ul-Azha generates a wealth of economic activity in Pakistan each year, with around PKR 376 billion worth of animals sacrificed last year. Given the magnitude of transactions taking place during the Eid ul Azha time frame, easypaisa will enable customers to transact securely and conveniently through its in-app QR feature and support SBP in its mission to drive Pakistan’s digital financial space forward.

Through this feature, all easypaisa users, along with all digital banking app and wallet users can send and receive money seamlessly at selected cattle markets across Pakistan. To send money, users simply need to tap the scan code option on the home screen, scan the receiver’s QR code, and enter the amount to proceed with the transaction. Similarly, to receive payments, users can tap the scan code option on their easypaisa app home screen and tap on receive money through either a static or a dynamic QR code.

Commenting on this development, Shahmeer Nadeem, Head of Product Management, TMB/easypaisa, remarked, “We remain committed to SBP’s mission of making Pakistan a financially inclusive society through our unique and customer-centric product offerings. The instant QR payment mechanism is the need of the hour and helps digitize the otherwise cash-intensive cattle market transactions, and ensures that our users can enjoy a hassle-free transaction experience during the Eid-ul-Azha festivities.”

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The State Bank of Pakistan has taken a proactive and diligent approach to spearheading the digitization of Pakistan's financial landscape. Aligned with the regulator's vision, easypaisa has consistently demonstrated its position as a frontrunner, leading the charge to transform the nation's financial services sector.

With over 40 million registered mobile accounts and counting, easypaisa remains dedicated to its mission of transforming Pakistan into a financially inclusive society through the power of collaboration and technology.

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Mazhar Ali Raza
Mazhar Ali Raza
Mazhar Ali Raza is a senior journalist from Karachi. He has served more than twenty years in journalism. He was recently associated with the dunya media group as a senior business reporter from the last eleven years . Prior to that he has worked for CNBC for the period of four years. His major beats were the energy auto banking and agriculture sector . He has covered many seminars and exhibitions in Pakistan and abroad as well .
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