In this article, we will tell our readers about Jazz Cash and EasyPaisa and which is a better option.
The first-ever mobile financial service ‘EasyPaisa’ was launched by Telenor Pakistan in partnership with Tameer Microfinance Bank Limited back in 2009. EasyPaisa has pioneered digital mobile payments in the country.
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JazzCash is the recent competitor of Telenor’s EasyPaisa in mobile financial services. It was earlier known as MobiCash. For JazzCash, Mobilink Microfinance Bank is offering the escrow services. Back in 2012, JazzCash was launched. It had limited user services at that time but now it is directly competing with EasyPaisa.
State Bank of Pakistan shared a newsletter according to which in terms of numbers and volume of transactions JazzCash is ahead of EasyPaisa.
According to the newsletter, at the close of 2018, branchless banking accounts increased with 4 million new accounts opening during Oct-Dec 2018.
When you compare accounts opened in Jazz Cash and EasyPaisa there is a significant difference. Mobilink MFB has a 44.6% active account share while Telenor MFB has a 40.7% active account share.
Similarly, a difference can be seen in the total deposits % share between Mobilink’s JazzCash and Telenor’s EasyPaisa.
The number of transactions and value of transactions percentage share also shows that Mobilink MFB is ahead of Telenor MFB.
Moreover, apart from volume and popularity JazzCash offers more services e.g. paying bills, bank transfers, debit cards, etc., ease of use, and ease of access, you can find widely available JazzCash points across the country, so JazzCash seems to be better than EasyPaisa comparatively.
Telenor’s EasyPaisa needs improvement in its business strategy. Customer care services need to improve. If customer experience is good and their complaints are being resolved than they will automatically choose the respective digital payment service.