The Askari Bank and the telecom company Zong have launched the branchless banking service with the name of “TimePey”. Through TimePey customers are be able to pay their utility bills, transfer money to anyone nationwide, deposit and withdraw cash along with carrying out account transfers, etc.
Zong has announced that they have kept the customer convenience in their mind while designing this service that’s why the TimePey service users do not necessarily have to be a Zong customer or even be a mobile phone subscriber. TimePey allows the users to avail the different types of services without the need of opening a bank account because the basic aim behind the launch of this service is to facilitate about 80% of the country’s population that does not have a bank account.
Zong Askari Bank Launch Time Pay Branchless Banking Service
“Zong, Askari Bank Launch TimePay Branchless Banking Service”
Zong has become the third telecom operator to launch this service. Mobilink had launched MobiCash through a collaboration with Waseels Bank and the EasyPaisa service from Telenor has been available to the users for a long time now.
At the launch event of TimePey the CEO of Zong, Fan Yubjun said:
“The launch of the Timepey branchless banking service is truly a major development that will benefit millions of people. This use of modern technology to provide efficient, secure, and convenient financial services to the public also has a strong corporate social responsibility angle, as the service will result in several socio-economic benefits, particularly for the low and middle-income segments, as for rural and peri-urban segments of society, who are generally not reached by traditional banking. This service is effectively a paradigm shift with far-reaching impact.”
Services available with TimePey:
- Fund Transfer
- Utility Bill Payment
- Cash Deposit to Timepey Account
- Cash Withdrawal from Timepey Account
- Salary Disbursement
- Mobile Balance Top Up
Level 0 account:
- Rs. 15,000/- per day
- Rs. 25,000/- per month
- Rs. 120,000/- per year
- Max. Balance Limits: Rs. 100,000
Level 1 account:
- Rs. 25,000/- per day
- Rs. 60,000/- per month
- Rs. 500,000/- per year
- Max. Balance limits: No Limit