Here’s why your money is not at risk in Easypaisa account

WEB DESK: After the recent acquisition of Telenor Pakistan by Pakistan Telecommunications Company Limited (PTCL), concerns have arisen among Easypaisa users regarding the fate of their popular digital financial services app.

Easypaisa, widely utilised in Pakistan for various financial transactions and bill payments, has become a focal point of speculation following the change in ownership.

With many Pakistanis relying on Easypaisa for years to manage their finances and store savings, the transition of Telenor to PTCL has prompted uncertainties about the security of their funds.

Social media platforms have witnessed the spread of misinformation, with claims urging Easypaisa users to safeguard their money amid fears that the app might face discontinuation.

https://twitter.com/mujt38714/status/1736774710736593279?s=20

In response to these concerns, Easypaisa has moved swiftly to reassure its customer base that the sale of Telenor Pakistan will not impact its operations, highlighting that Easypaisa is not part of the transaction.

In response to recent news about Telenor Pakistan's sale, we want to assure our valued customers that our operations remain unaffected. Telenor Microfinance Bank (TMB) and its flagship platform, easypaisa is not part of this transaction. Your deposits are completely secure, and…

— easypaisa (@easypaisa) December 17, 2023

In a recent social media statement, the company affirmed that users’ deposits are entirely secure and that the transition will not adversely affect them.

Highlighting its status as an independent financial institution, licensed and governed by the State Bank of Pakistan (SBP), Easypaisa underscored the resilience of its platform.

This clarification aims to dispel any doubts about the safety of users’ money and personal information and clarifies that Easypaisa is not shutting down.

The recent acquisition, announced by Pakistan Telecommunication Company Limited (PTCL), involved the complete takeover of Telenor Pakistan for $495 million on a cash-and-debt-free basis.

This strategic move positions the PTCL Group to merge the operations of Telenor and Ufone Pakistan, potentially creating the largest cellular operator in the country.

The development marks a significant shift in the Pakistan’s telecom sector, challenging the longstanding leadership of Jazz (formerly Mobilink), which has dominated the industry for more than ten years.

Read next: Sindh govt announces two holidays