Tencent "first line" author Sun Hongchao
On the evening of March 13, Beijing time, Norway's Telenor Group and Ant Financial Group announced a strategic partnership. Ant Financial will invest US$184.5 million to purchase a 45% stake in the former subsidiary TMB (Telenor Microfinance Bank) in Pakistan. Through sharing Alipay's technology and experience, it will provide more Pakistani users with digital inclusive financial services such as mobile payments. . It is understood that this is the first time that a Chinese fintech company has landed in Pakistan.
For this cooperation, Pakistani Prime Minister Shahid · Hakan · Abbas commented that “We hope this cooperation can leverage the power of technology and digital payment to bring inclusive financial services to Pakistani people and create future growth. Opportunity. ”
According to statistics, Pakistan’s population is about 200 million, but according to the World Bank’s data, there are still 100 million people who do not have access to basic financial services. As the first local microfinance bank that has been approved by the government, TMB has 181 branches and 76,000 branch offices in Pakistan. It mainly provides microfinance and related financial services for people with less interest or bank accounts in local communities. Including farmers, fishermen, small vendors, and young people and women who do not have a sufficient economic base.
Pakistan’s 3G and 4G mobile networks are rapidly developing, and the penetration of local mobile phones has exceeded 70%, of which smart phone users are around 30%. In 2009, TMB launched Pakistan's first mobile banking service platform, Easypaisa, which can provide basic payment services such as fund transfer, water and electricity bill payment, and call recharging, and serves more than 20 million local users in a non-delivery manner. the first.
TMB's parent company, the Telenor Group (Norwegian Telecom), is one of the world’s largest multinational telecommunications operators. Its CEO, Swinwell Blake, stated that “the introduction of new standards like Alipay’s digital payment services for Pakistan will establish the Partnerships are in full compliance with Telenor’s strategy of placing financial services in emerging markets. ”
Ant Financial CEO Kei Yung-dong said: "We are pleased to establish this strategic partnership with the Telenor Group and share Alipay's technical expertise to bring a safe, transparent, cost-effective and efficient user experience to the Easypaisa mobile payment platform." In Pakistan, further mobile payments and inclusive financial services are provided for small and micro-groups that do not yet have bank accounts or have difficulty reaching financial services. ”