If you were one to think that the future of banking and commerce was to be a purely digital one, it’s time you thought otherwise. For the future is one where both seas meet; it is the union of digital and physical banking. Where physical banks are meeting the digital horizon, the same is true for the other side of the line, with the launch of debit cards like those for Sadapay, NayaPay, and now EasyPaisa, while they stay true to their digital natures with the introduction of virtual debit cards.
EasyPaisa’s Visa Debit card, for one, allows the holder to make payments at over 90,000 card-accepting POS (point-of-sale) merchants dispersed around the country, while the money can be withdrawn from around 16,000 ATMs nationwide. The contactless version of the card uses NFC technology, which provides the cardholder with the ability to make payments by conveniently tapping the card on the merchant POS. Thus, QR codes and online cards are two features staying true to the digital side of the entity.
The Virtual Debit Card is also a stepping stone to the strengthening of the Fintech and, more specifically, digital payments landscape in Pakistan. A milestone that will eventually be achieved with the burgeoning communal trust achieved by the product’s provision of security, whereby the technology in its chips deters and obstructs any copying and/or counterfeiting attempts. Doing so will hopefully boost consumer confidence and control in the practice of making digital payments, which was was predominantly impeded by the client’s reservations with reference to online identity theft and fraud.
The box for financial inclusivity is conveniently checked with the card claiming to be the lowest priced card in the market. This restores faith in the eventual aim of making financial literacy and participation equally accessible to all and any factions of the society across the socioeconomic spectrum. The ease of creating an EasyPaisa account had already increased digital banking’s penetration among those at the lower end of the spectrum; with the Debit Card’s launch and ease of use, the effect of financial inclusivity is expected to climb up the ladder.
To get your EasyPaisa Debit Card, order one from within the EasyPaisa app, or request one from the EasyPaisa helpline 3737 if you are a Telenor user, or from the number 042 111-003737 if you use any other network.
Once the card arrives, you must enter your 4-digit PIN for activation, either through the mobile app or the helpline.
Here’s to life getting Easy-er by the day!