The trend of mobile banking is rising in Pakistan with huge potential to explore. After much hype of Telenor EasyPaisa, Mobilink MobiCash, Ufone has launched its Upaisa on the same lines further strengthening mobile banking structure in Pakistan. The website of Upaisa is www.upaisa.com.pk which is under construction at the moment.
Ufone which is owned by Etisalat group and a sister concern of PTCL has established its own microfinance institution U Microfinance Bank Limited (UBank) which also signed a MoU with National Bank of Pakistan (NBP) for facilitating old citizens who have been retired and are on pensions.
Apart from standard e-financial services that others are offering, Upaisa customers can also pay utility bills and income tax through their mobiles phones. Other routine services are Mobile Account and Money Transfer. These services are not limited to Ufone subscribers alone; in fact customers of any mobile network operator can use Upaisa over the counter service. Upaisa has started its operation with 9000 retail outlets across the country.