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Zong TimePey: Another Mobile Financial Service Provider in Pakistan

Zong TIMEPEY Launched Zong TimePey: Another Mobile Financial Service Provider in Pakistan

To share the piece of pie of the fastest growing mobile and branchless banking market a new team up between Zong and Askari Bank has been done. They had launched TimePey; a branchless banking solution. The main aim of Timepey is to facilitate the Pakistanis who are away from Banks. By using Timepay the users can pay their utility bills, deposit and withdraw cash, transfer money to specified person and carry out account transfers.

Two telecoms Mobilink and Telenor has already started to offer mobile banking. Zong has become the third telecom operator in Pakistan which offers mobile banking services. TimePey which provides a branchless banking service is formed after the collaboration of commercial bank and a telecom operator.

Timepey 1  thumb Zong TimePey: Another Mobile Financial Service Provider in Pakistan

Words from the Director of Zong

According to Usman Ishaq, the Executive Director of Zong, the rise in branchless banking seems to be significant but is not enough so that it can meet the demand. He added that the services provided by them will be enhanced later by adding more services like salary distribution, payment services, home remittances, transactions for food chain, microfinance and transactions which are related to the medium and small enterprises.

Words from the President of Askari Bank

The Chairman and President of Askari Bank, MR Mehkari, on the special occasion of lunch of TimePay said that they have built a scalable trade network after partnering with the China Mobile Communications Corporation at which people can easily cash out or pay using their account of branchless banking service. Currently there are more than 3,000 TimePay agents.

Information about Zong

April 20, 2000 was the date when China Mobile Corporation was officially established. The registered capital of China Mobile Pakistan is 51.8 billion Yuan and has assets of more than 400 billion Yuan. Among the overseas companies in terms of network coverage, market value and subscriber, it is the largest company.

Zong timepey banner 300x202 Zong TimePey: Another Mobile Financial Service Provider in PakistanIs there any problem in opening TimePey account

There is no any problem and restrictions on opening TimPey account. There is no problem even the user is not a mobile phone subscriber or is not a Zong customer. Officials said that if anyone wants to have financial services even without opening any bank account it is now possible.

TimePey is offering funds transfer service in following four modes:

  • CNIC to CNIC
  • CNIC to Mobile Account
  • Mobile Account to Mobile Account
  • Mobile Account to CNIC

The charges for CNIC to CNIC fund transfers of different Mobile financial service providers are:

Transaction Slabs (PKR)

Zong TimePey

Mobilink Mobicash

Telenor Easypaisa

0 – 1,000 Rs. 60 Rs. 60 Rs. 60
1,001 – 2,500 Rs. 120 Rs. 120 Rs. 120
2,501 – 4,000 Rs. 170 Rs. 180 Rs. 180
4,001 – 6,000 Rs. 230 Rs. 240 Rs. 240
6,001 – 8,000 Rs. 290 Rs. 300 Rs. 300
8,001 – 10,000 Rs. 350 Rs. 350 Rs. 360
10,001 – 13,000 Rs. 400 Rs. 400 Rs. 420
13,001 – 15,000 Rs. 450 Rs. 450 Rs. 480

All prices include taxes

Service charges for other services:

  • Opening of Timepey Account (Level – 0): Rs. 58
  • Opening of Timepey Account (Level – 1): Rs. 58
  • Cash Deposit (For Timepey Account Holders: Free
  • Utility Bill Payment: Free
  • Mini Statement: Free
  • Balance Enquiry: Free

Locations of TimePey Agents:

According to Zong, throughout the country there will be more than 3,000 TimePey outlets.

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Filed in: Pakistan Telecom, Telecom News, Zong, Zong News

One Response to “Zong TimePey: Another Mobile Financial Service Provider in Pakistan”

  1. Mohammad ismail
    December 3, 2012 at 5:34 pm #

    I just love zong…………
    Very nice post ,this is my first visit to your site and i find it good
    Thanks

    Reply

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