In popular remittance-receiving countries like Pakistan, mobile wallets (or e-wallets) are a great way to receive money for people unable to access bank accounts or cash pick-up locations. Continue reading to discover more, including the most popular mobile wallet providers in Pakistan.
The number of mobile wallets in Pakistan
There were over 175 million mobile phone subscribers in Pakistan in 2020, according to Statista. In a country of almost 220 million people, that represents around 80 per cent of the population. That means that more Pakistanis have potential access to mobile wallets than they do bank accounts (roughly 50 million people). That’s because most smartphones come pre-installed with a mobile wallet. Even better, you can also access them via a tablet. Most cards in your real wallet can be added to your e-wallet. These include:
- Debit and credit cards.
- Boarding passes.
- Tickets to events.
You can also add “wallets” for mobile payment and branchless banking providers.
List of mobile payment providers in Pakistan
If you’re sending money to a loved one’s mobile wallet, you’ll need to know their wallet provider. For Azimo mobile wallet transfers, they’ll need a wallet with either:
|SadaPay||Free Mastercard debit card. Transfers to any bank or wallet in Pakistan. Fee-free cash withdrawals at any ATM in Pakistan (3 per month).|
|Jazz Cash Wallet (formerly MobiCash)||Invite and earn referral schemes. Transfer money to anyone anywhere. Recharge your mobile balance. Subscribe to mobile packages|
|EasyPaisa Wallet||Send digital tohfas (gifts) to loved ones. Donate directly to charities like the Edhi Foundation. Purchase discounted bus tickets in Pakistan. Buy data bundles at discounted rates.|
|HelloCash||Buy mobile airtime. Pay government taxes. Buy bus and plane tickets. Mini reporting of finances.|
Even better, transfers to mobile wallets with Azimo are instant and you can send up to 1,000,000 Pakistani rupees (around £4,000).
Some other notable mobile wallet providers in Pakistan include:
- Keenu Wallet.
- SimSim Wallet.
How do mobile wallets work?
Mobile wallets work using near-field communication (NFC) technology. It’s the same principle that allows smartphones to read QR codes, use contactless readers and connect to Bluetooth.
With most mobile wallets, you can:
- Send and receive money locally or overseas.
- Purchase goods from e-commerce shops.
- Buy prepaid cards for services like Netflix, Xbox, and iTunes.
- Pay for bills online.
- Scan and pay for goods in-store.
- Buy prepaid mobile vouchers.
- Accept cashback offers.
How to open a mobile wallet account.
First of all, your recipient will need to download and install the provider’s app. After that, they’ll have to fill out the registration form. To save time, they should have their personal information to hand before they start the process.
Your recipient will then need to verify themselves as a Pakistan citizen, and this usually means submitting scans of either their:
- 13-digit National Identity Card (NIC) number.
- Eight or nine-character passport number.