KARACHI: A joint venture of Telenor Pakistan and Tameer Microfinance Bank, Easypaisa, has become the first mobile money service to become inter-operable with the existing banking infrastructure by launching the Inter-Bank Fund Transfer (IBFT) service, enabling its customers to transfer funds between a number or banks via the 1-Link switch.

Easy paisa brings this service to both its mobile account holders and over-the-counter (OTC) customers. Easypaisa Mobile Account holders can now move funds from any bank account into their mobile account and vice versa.

Any customer can walk into any of the Easypaisa shops and deposit cash directly into any bank account. Customers will only need to approach an Easypaisa shop, provide their CNIC and their bank account number to use this service. This cash deposit facility will be available at Easypaisa shops while they are open, often late into the night and even on weekends.