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Era of Digital Payments

Almost half a decade ago, commerce system was being regulated by cash payments and generic banking systems. At that time, there was no concept of digital modes of fund transactions.

With the evolution of Information Technology (IT) in Pakistan, the scenario has totally changed. Firstly, Banks started this digitalization by introducing Automated Transaction Machines (ATMs) based on Debit cards having unique digital codes. Similarly, Credit cards issued by Banks improved this culture of digital payments. Secondly, E-commerce of Pakistan started following the multinational companies like Amazon, Alibaba and others using highly effective payment methods of Paypal, Cybersource and more. In this race, Pakistani E-commerce has somehow developed very effective digital payment network with the help of national and international banks.
Moreover, the major role of developing this digital commerce system is being played by android/iOS applications of multiple telecommunication companies. Especially, easypay by Telenor and jazzcash by Mobilink is serving the masses for conducting digital payments. Other than these, Alpha by Bank Alfalah, SC by Standard Chartered and SimSim by Finca Microfinance are playing an effective role.
However, this culture of digital payments has made the life of people easy. Now, everyone can pay his utility bills, Instalments and payments by using new digital modes of payments. In this regard, has started the facility of online instalment taking process on its unique website portal via easypay.

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