What is Easypaisa?
Easypaisa is a mobile wallet and digital banking service in Pakistan, used to send and receive money, pay bills and pay merchants by account number or QR code.
Updated
Meaning
English
Easypaisa is a mobile wallet and digital banking service in Pakistan, used to send and receive money, pay bills and pay merchants by account number or QR code.
Roman Urdu
Easypaisa Pakistan ka mobile wallet aur digital banking service hai, jis se paise bheje aur liye jaate hain, bill diye jaate hain aur dukaan ko QR se payment hoti hai.
Also called Easy Paisa, mobile wallet.
Example
A grocery store receives 40 Easypaisa payments on a Saturday. At closing, the owner checks the Easypaisa total in the app against the Easypaisa total on the day's bills; both show 86,300 rupees.
How it works
Easypaisa works much like other wallets: customers pay by number, by QR or through Raast from their bank app. For shops, the same discipline applies to every digital method: record the method on the bill, check receipts in the shop's own app rather than on the customer's screen, and reconcile the total daily.
Wallet money can also pay suppliers and bills, so keep track of what goes out of the wallet as well as what comes in. Otherwise the wallet balance becomes a second, unrecorded galla.
In Nafaa
The Nafaa counter records Easypaisa as its own payment method and in split payments, the shop's Easypaisa merchant QR can be printed on bills, and Shop accounts tracks the Easypaisa account's money in and out with a ledger of every movement.
Related terms
- JazzCash
JazzCash is a mobile wallet and branchless banking service in Pakistan, used to send and receive money, pay bills and pay shops by number or QR code.
- Raast QR (Merchant QR)
A merchant QR is a code displayed at the counter or printed on the bill that customers scan with a banking or wallet app to pay the shop directly.
- Split Payment
A split payment is one bill paid with more than one method, such as part cash and part card, wallet or khata.