Easypaisa Bank Name and Ericsson's Cloud Native Upgrade

Easypaisa's partnership with Ericsson involved a significant upgrade to their technology infrastructure, specifically their cloud native architecture. This upgrade aimed to improve the efficiency and scalability of their services.

The upgrade was a key step in Easypaisa's digital transformation journey, enabling them to better serve their customers and stay competitive in the market. With Ericsson's expertise, they were able to implement a more agile and responsive system.

Easypaisa's cloud native architecture upgrade was a strategic move to future-proof their business and stay ahead of the curve in terms of technological advancements.

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Easypaisa is Pakistan's first and largest branchless banking solution. It was launched jointly by Tameer Micro Finance Bank and Telenor Pakistan.

The existing Easypaisa service already supports more than 21 million active consumers and 75,000 agents in over 800 cities throughout the region, including rural areas.

This includes an integrated m-commerce solution that offers a seamless customer experience.

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Ericsson has completed a major tech stack upgrade for Pakistan’s Telenor Microfinance Bank (TMB), giving its mobile wallet easypaisa a cloud-native platform.

The upgraded platform is built on an open architecture with a wide range of APIs and enhanced functionalities, enabling easypaisa to broaden its spectrum of digital financial services.

This upgrade follows a deal signed by Ericsson and TMB in February 2024 to extend their existing partnership.

The platform upgrade enables easypaisa to scale its operational services, introduce new revenue streams, and drive fintech innovations that support Pakistan’s growing digital economy.

Mohammad Hasan Ayaz, CTO of TMB and easypaisa, said the upgrade will enable easypaisa to scale all lines of business in the coming years and play a pivotal role in shaping the future of Pakistan’s digital banking landscape.

TMB served over 13.2 million monthly active users in 2023, a 17% year-on-year increase.

The easypaisa app saw 9.6 million monthly active app users last year, up 32% year-on-year.

Easypaisa processed over 2.1 billion transactions worth PKR7 trillion (US$25.2 billion) in FY2023, representing a 56% growth in transactions and 77% growth in volume compared to FY2022.

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Easypaisa, Pakistan's first and largest branchless banking solution, has upgraded to Ericsson Wallet Platform to replace its existing platform.

The existing Easypaisa service supports more than 21 million active consumers and 75,000 agents in over 800 cities throughout the region, including rural areas.

This deployment represents one of the largest mobile money service offerings in the world.

Easypaisa is continuously focusing on enhancing customers' experience of doing financial transactions in a secure and seamless manner.

The new Ericsson Wallet Platform is helping Easypaisa increase volumes and payment transactions, enabling wider mobile money adoption and offering a seamless customer experience.

Telenor Pakistan's partnership with Ericsson accelerates and increases the availability of mobile money services for the country's citizens.

Easypaisa's mobile money services are already available in over 800 cities, including rural areas, making it a significant player in the mobile money market.

The Ericsson Wallet Platform is a next-generation wallet platform that provides added benefits and services to propel financial inclusion through branchless banking.

The platform is expected to help Easypaisa expand its mobile money offerings, benefiting its subscribers throughout the country.

Easypaisa's partnership with Ericsson positions banks to succeed in an expanding mobile money ecosystem.

Here are some key statistics about Easypaisa's existing service: