E-payment to reduce banks' plastic cards business

Ecommerce sites, we still rely on the established payment methods that are popular overseas. These include credit card payments, paypal, etc. However, for domestic e-commerce, it is imperative to get our local payments up and running. So for example, today, Easypay offers any businesses to accept payments via any Easypaisa retailer or an Easypaisa Mobile Account. International vendors will not be able to take an advantage of the payments in Pakistan until they build a domestic presence.

With Easypay, any customer can make a payment to an e-commerce site in real time. If the customer has an Easypaisa Mobile Account, they can pay directly from their Mobile Account. Otherwise, they will receive a token number which can be paid at any of the 50,000 Easypaisa shops across the country. The transactions are real-time which means funds are settled instantly for both consumers and businesses. There are no manual processes required and merchants are provided with a complete reporting portal to reconcile their funds.

However, with Easypay, every transaction requires a two-factor authentication, which means that you will need to enter your Mobile Account PIN when you make a transaction. So even if your phone is lost, no one else can do a transaction with it until they also know your secret PIN. Furthermore using electronic forms of payments avoids the inherent risks associated with carrying cash, like theft and mugging.

Easypay is more secure, more affordable and more convenient solution for both consumers and for businesses. Cash on Delivery is a good option for consumers, but it ends up being too costly for businesses who recover their payments after many days. Easypay offers instant payments and settlements, hence freeing up the Working Capital for businesses to engage in better customer services.