After PTCL's Telenor Purchase, Official Statement Unveils Easypaisa's Future

After PTCL’s Telenor Purchase, Official Statement Unveils Easypaisa’s Future

Business

Following the sale of Telenor Pakistan to PTCL, digital financial services provider Easypaisa assures its customers that its operations will remain unaffected, emphasizing that Telenor Microfinance Bank (TMB) and Easypaisa are not part of the transaction. The statement on social media reassures customers about the security of their deposits, highlighting the independence of TMB and Easypaisa as licensed financial institution governed by the State Bank of Pakistan (SBP).

Independent Financial Institution

Easypaisa underscores its status as an independent financial institution in a joint venture between Telenor B.V. and Ant Group. Stakeholders emphasize transforming TMB from a Microfinance Bank to a Digital Retail Bank, pending regulatory approvals.

Customer Trust & Operational Continuity

Easypaisa urges customers to dismiss any unsubstantiated rumors, reiterating a commitment to maintaining high standards of service and security. Emphasizing seamless continuity, the statement expresses gratitude for customer trust and dedication to a financially inclusive, digital Pakistan.

PTCL’s Acquisition of Telenor Pakistan

Last week, PTCL announced acquiring 100% of Telenor Pakistan for $495 million, free from cash and debt. PTCL Group negotiated to acquire the Norwegian operator’s Pakistani arm over an extended period, marking a strategic move. In 2022, Telenor Group’s CEO hinted at divesting Asian assets, including Pakistan, aligning with a shift in focus to Europe.

Transforming Pakistan’s Cellular Landscape

The amalgamation of Ufone and Telenor Pakistan’s operations and customer base is poised to transform the cellular landscape in Pakistan, as it is set to become the largest cellular operator in the country, challenging the leadership position held by Jazz for over fifteen years.

Also read this: https://www.skipper.pk/2023/12/15/foodpanda-pakistan-becomes-official-e-commerce-partner-for-islamabad-united-in-psl-9/

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