A mobile wallet account is a digitalized form of your credit/debit card, allowing you to make online payments using your mobile, tablet, or smartwatch without needing physical cards or cash.
In this article, we will explore the top mobile wallet accounts, offering insights to help you grasp their features and select the most suitable option based on your requirements.
Before starting our guide here is a brief overview of our selected e-wallets that are available in Pakistan right now:
| Mobile Wallet Account | Key Features |
|---|---|
| Easypaisa | Money Transfer, Savings Plans, Utility Bill Payments, Top-Up Wallets, Invite & Earn, Insurance Plans, Generous Account Limits, Convenient Biometric Verification, Transparent Fee Structure, Monthly Prize Giveaways |
| JazzCash | Bill Payments, Money Transfer, Mobile Recharge, Deposits and Withdrawals, ATM Card Usage |
| UPaisa | Open UPaisa Wallet, Mobile Recharge, Money Transfer, Bill Payment, UPaisa Debit Card, International Payments |
| Meezan Smart Wallet | Quick and Paperless Account Setup, Riba-Free Banking Benefits, ATM Access, Utility Bill Payments |
| Konnect by HBL | All-in-One Lifestyle Solution, Seamless Mobile Banking Experience, Branchless Banking Solution |
| myABL Digital Wallet | Mobile Banking for the Unbanked, Account Setup with CNIC and Mobile Number, Different Levels of Accounts |
| SadaPay | No Charges, Invitation Process, Easy Money Requests, Global Usage |
| PayPak | Domestic Payment Scheme, Wallet Account with Debit Card, Nationwide Acceptance |
Now, let’s begin our guide. Here we go!
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Best Mobile Wallet Account In Pakistan | How To Open A Wallet Account In Pakistan?
Table of Contents
- Best Mobile Wallet Account In Pakistan | How To Open A Wallet Account In Pakistan?
- What Is A Mobile Wallet Account? (Types & Benefits)
- Best Mobile Wallets In Pakistan
- Best Bank Wallet Account In Pakistan
- International E-Wallets In Pakistan
What Is A Mobile Wallet Account? (Types & Benefits)
A mobile wallet account serves as a digitalized version of your credit/debit card, often offering features akin to a traditional bank account.
Here are some typical types of information that a mobile wallet account can store:
- Payment Information (credit/debit cards, bank accounts, digital currency)
- Transaction History (date, time, amount, recipient)
- Loyalty Cards and Rewards Points
- Cryptocurrencies and Tokens
- Health and Insurance Cards
- Digital Keys and Access Cards
- Receipts and Invoices
- Ticketing and Boarding Passes
- Coupons and Discounts
- Identification Documents (licenses, passports, membership cards)
- Personal Information (addresses, emails, contacts)
- Security Credentials (PIN, fingerprints, facial recognition)
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Best Mobile Wallets In Pakistan
EasyPaisa
Easypaisa, established in 2009, is Pakistan’s inaugural Mobile Wallet Account and is the nation’s premier mobile banking platform. It is also the sole GSMA mobile money-certified service in Pakistan.
Easypaisa’s Offerings
- Money Transfer: Easypaisa offers a variety of money transfer options, allowing users to send funds to any bank account, mobile wallet, or network they prefer, including platforms like JazzCash and SadaPay, and even services like WhatsApp.
- Savings Plans: Easypaisa provides easy access to savings plans with annual profits ranging from 7% to 18%, without requiring documentation or fixed deposits. Users can select from a range of plans based on their preferences.
- Utility Bill Payments: With over 1500 billers integrated into the Easypaisa app, users can conveniently pay utility bills such as electricity, gas, water, and telephone bills.
- Top-Up Wallets: Easypaisa users can avail of exclusive discounts when topping up their Daraz or M-Tag Wallets.
- Invite & Earn: Users can earn cashback rewards for themselves and their referrals by inviting friends to register on Easypaisa.
- Insurance: Easypaisa offers affordable insurance plans starting from as low as Rs. 2, providing coverage for individuals and their families. Plans like Easypaisa Tahafuz offer coverage of up to Rs. 500,000, ensuring security for the future.
Easypaisa’s Key Features
- Generous Account Limits: Easypaisa offers monthly account limits of up to Rs. 25 lakh, providing users with ample flexibility for their financial transactions.
- Convenient Biometric Verification: Users can easily complete biometric verification within the Easypaisa app, ensuring secure transactions and user identification.
- Transparent Fee Structure: Easypaisa boasts a transparent fee structure with no hidden charges on transfers or payments, allowing users to manage their finances with clarity and ease.
- Monthly Prize Giveaways: Easypaisa hosts monthly prize giveaways, offering users exciting rewards and the chance to win valuable prizes.
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JazzCash
JazzCash serves as a portable bank, simplifying life for millions in Pakistan. With the JazzCash app, users can conveniently pay bills, transfer money to friends and family, recharge their phones, and subscribe to mobile packages.
Instant Payment Solution
- Convenient Deposits: Easily add money to your Mobile Account by depositing cash at any JazzCash Agent, Business Center, Franchise, or Mobilink Microfinance Bank Branch. Provide your mobile number and cash to the agent. Deposit charges are as follows: For deposits from Rs. 50 to Rs. 20,000: 0.50% + FED
- Straightforward Withdrawals: Withdraw cash from your Mobile Account at any JazzCash Agent across Pakistan. Provide your mobile number, confirm the withdrawal with your MPIN, and collect your cash. You can also use any ATM in Pakistan with a JazzCash ATM Card. Refer to withdrawal charges for details. For deposits of Rs. 20,001 & above: PKR 100 + FED
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UPAisa
UPaisa simplifies life by enabling bill payments, money transfers, and mobile balance recharges with a single tap. Established in October 2013, UPaisa is a collaboration between U Microfinance Bank and Ufone, offering branchless banking solutions. With UPaisa, users can send and receive money, pay bills, make purchases using QR codes, and buy Super cards or phone credit for any network, from anywhere.
UPaisa’s Offered Services
- Open UPaisa Wallet: Easily create your UPaisa Wallet to access a range of services such as fund transfers, bill payments, and mobile recharges.
- Mobile Recharge: Recharge your mobile balance effortlessly on any network using UPaisa.
- Money Transfer: Send and receive money conveniently through your UPaisa Wallet, ensuring quick and easy transactions.
- Bill Payment: Pay your utility bills on the go using UPaisa.
- UPaisa Debit Card: Opt for the UPaisa Debit Card for shopping, payments, and cash withdrawals.
- International Payments: Receive international payments directly into your UPaisa Account, facilitating easier access to funds from abroad.
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Best Bank Wallet Account In Pakistan
Meezan Smart Wallet
Meezan Bank offers Smart Wallet accounts in two types, providing convenience and flexibility for your banking requirements.
Meezan Smart Wallet
- Quick and Paperless Process: Open your Meezan Smart Wallet Current swiftly without the hassle of paperwork. It operates under Islamic principles based on the Qarz Contract, ensuring your funds are secure and compliant with Shariah guidelines.
- Riba-Free Banking Benefits: Enjoy the advantages of interest-free banking with instant account opening, ATM access, biometric verification, no minimum deposit requirement, complimentary Internet banking, and seamless utility bill payments.
Opening Process and Requirements:
- Swift Account Setup: Acquire your Smart Wallet promptly and benefit from a Riba-free current account experience. This Islamic wallet permits paperless account opening, allowing you to verify your identity through biometric authentication and commence banking conveniently from the comfort of your home via the Meezan Mobile App.
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HBL Konnect
- All-in-One Lifestyle Solution: Konnect by HBL offers a comprehensive lifestyle solution, enabling users to buy movie tickets, order food, send money, pay bills, top up their phones, and shop at Konnect Shop.
- Seamless Mobile Banking Experience: Banking becomes enjoyable with Konnect’s seamless mobile banking experience. The new Konnect App functions as a digital bank account that can be opened instantly. Simply input your basic CNIC information, and you’re ready to enjoy digital banking on the go.
- Branchless Banking Solution: The Konnect App serves as Habib Bank Limited’s branchless banking solution, providing users with a convenient way to manage their finances digitally.
myABL Digital Wallet
- Mobile Banking for the Unbanked: The myABL Wallet app is a mobile banking service tailored for individuals in Pakistan without a bank account, offering features like fund transfers and bill payments.
- Account Setup: All you need is a valid CNIC and a functional mobile number. Your mobile number serves as your account, transforming your phone into a digital wallet, providing banking convenience anytime, anywhere.
Types of Accounts:
- Level – 0: Basic branchless banking account with low transaction limits.
- Level – 1: Biometrically verified account with higher transaction limits.
- Home Remittance Account: Specialized L1 account for receiving money from abroad directly into the Wallet account.
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International E-Wallets In Pakistan
SadaPay
- SadaPay Wallet Account: SadaPay is a State Bank of Pakistan-approved company offering a wallet account and Mastercard debit or virtual card for diverse financial opportunities.
- No Charges: Enjoy spending, sending, and requesting money without any fees.
- Invitation Process: People from the waitlist are being invited to join SadaPay. Once you receive an invitation, sign up to access the latest in money technology.
- Request Money Easily: With SadaPay, you can request money from friends without the need for uncomfortable conversations about repayment.
- Global Usage: Your SadaPay card is accepted globally, both online and offline, providing convenience wherever you go.
Pay Pak- 1 Link
- PayPak Overview: PayPak is Pakistan’s first domestic payment scheme (DPS), managed by 1LINK under the supervision of the State Bank of Pakistan, with a focus on enhancing financial inclusion and digitalization in the country.
- Wallet Account Benefits: With a PayPak wallet account, customers receive a debit card that is accepted nationwide at ATMs, restaurants, shops, malls, and online stores.
- Domestic Transactions: All transactions made with PayPak stay within Pakistan, ensuring privacy and security for users.
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Comparative Analysis Of Mobile Wallets In Pakistan
The following is a comprehensive comparison table of different mobile wallet accounts in Pakistan based on functionality, charges, and additional parameters:
| Criteria | Easypaisa | JazzCash | UPaisa | Meezan Smart Wallet | Konnect by HBL | myABL Digital Wallet | SadaPay | PayPak |
|---|---|---|---|---|---|---|---|---|
| Functionality | Money Transfer, Savings Plans, Utility Bill Payments, Top-Up Wallets, Invite & Earn, Insurance Plans, Generous Account Limits, Convenient Biometric Verification, Transparent Fee Structure, Monthly Prize Giveaways | Bill Payments, Money Transfer, Mobile Recharge, Deposits and Withdrawals, ATM Card Usage | Open UPaisa Wallet, Mobile Recharge, Money Transfer, Bill Payment, UPaisa Debit Card, International Payments | Quick and Paperless Account Setup, Riba-Free Banking Benefits, ATM Access, Utility Bill Payments | All-in-One Lifestyle Solution, Seamless Mobile Banking Experience, Branchless Banking Solution | Mobile Banking for the Unbanked, Account Setup with CNIC and Mobile Number, Different Levels of Accounts | No Charges, Invitation Process, Easy Money Requests, Global Usage | Domestic Payment Scheme, Wallet Account with Debit Card, Nationwide Acceptance |
| Charges | Transparent fee structure with no hidden charges on transfers or payments | Charges applicable for certain services such as cash deposits and withdrawals, mobile account transactions | Charges may apply for specific transactions and services | No minimum deposit requirement, ATM withdrawals may have nominal fees | Charges may apply for specific transactions and services | Charges may apply for certain transactions and services | No charges for spending, sending, and requesting money | Charges may apply for certain transactions and services |
| Security Measures | Biometric verification within the app for secure transactions and user identification | Secure PIN and biometric verification for transactions | Security features implemented for secure transactions | Riba-free banking adhering to Islamic principles, secure PIN for transactions | Secure digital banking experience with authentication measures | Biometric verification and transaction PIN for secure banking | Stringent security protocols for safe transactions | Secure PIN-based transactions and nationwide acceptance |
| Accessibility | Wide network coverage with extensive agent locations across Pakistan | Extensive network of agents and participating merchants | Accessible through Ufone network and UPaisa agents | Accessible through Meezan Bank branches and digital channels | Accessible through HBL network and Konnect app | Accessible through ABL branches and digital channels | Accessible through SadaPay app and participating merchants | Nationwide acceptance at various merchants and ATMs |
| Financial Inclusion Efforts | Offers affordable insurance plans and savings options without documentation requirements | Focuses on expanding financial services to underserved communities | Provides branchless banking solutions to promote financial inclusion | Offers Riba-free banking benefits for unbanked individuals | Aimed at providing banking solutions to all segments of society | Tailored for individuals without traditional bank accounts, promoting financial inclusion | Focuses on providing banking services to the unbanked and underbanked | Aims to enhance financial inclusion through domestic payment solutions |
| User Experience | User-friendly interface with intuitive navigation and features | Simple and easy-to-use app interface for transactions | User-friendly app interface with convenient features | Seamless account setup process with user-friendly interface | Intuitive app design with comprehensive banking features | User-friendly interface with easy account setup and navigation | Simple and hassle-free app interface for transactions | User-friendly interface with easy account management and transactions |
| International Transactions | Limited international transaction capabilities | Limited international transaction capabilities | Limited international transaction capabilities | No specific international transaction capabilities mentioned | No specific international transaction capabilities mentioned | Limited international transaction capabilities | Global usage with international transaction capabilities | Nationwide acceptance with no specific international transaction capabilities mentioned |
Step-by-Step Guide to Opening an E-Wallet Account
Here’s a step-by-step guide to opening an e-wallet account in Pakistan:
- Download the Mobile Wallet App:
- Open the Google Play Store on your Android device.
- In the search bar, type the name of the e-wallet app you want to use (e.g., Easypaisa, JazzCash, SadaPay).
- Tap on the app from the search results to open its page.
- Click on the “Install” button to download and install the app on your device.
- Launch the App:
- Once the app is installed, tap on the app icon to launch it.
- Register/Sign Up:
- Upon opening the app, you will be prompted to register or sign up for a new account.
- Enter your mobile number and verify it through the OTP (One Time Password) sent to your mobile number via SMS.
- Provide Personal Information:
- After verifying your mobile number, you may need to provide some personal information such as your full name, CNIC (Computerized National Identity Card) number, and email address.
- Some apps may also require you to set up a secure PIN or password to access your account.
- Complete Biometric Verification (if applicable):
- Some e-wallet apps may require biometric verification for added security. Follow the on-screen instructions to complete the biometric verification process using your fingerprint or facial recognition.
- Set Up Security Measures:
- Once your account is created, you may be prompted to set up additional security measures such as a PIN or password. Choose a secure PIN/password that you can easily remember but is difficult for others to guess.
- Explore App Features:
- Once your account is set up, take some time to explore the features and functionalities of the app.
- Familiarize yourself with options such as money transfers, bill payments, mobile top-ups, and any other services offered by the e-wallet app.
- Link Bank Account (if applicable):
- Some e-wallet apps allow you to link your bank account for seamless transactions. Follow the instructions within the app to link your bank account securely.
- Add Funds to Your Wallet:
- To start using your e-wallet, you’ll need to add funds to it. Depending on the app, you can add funds through bank transfer, cash deposit at designated agents, or through other supported methods.
- Start Transacting:
- Congratulations! Your e-wallet account is now set up and ready to use. You can start transacting immediately by sending money, paying bills, recharging your mobile balance, and more, directly from your e-wallet app.
Following these step-by-step instructions, you can easily set up and start using your e-wallet account in Pakistan.
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FAQs | Mobile Wallet Account
What is a mobile wallet account?
A mobile wallet account is a digitalized version of your credit/debit card that allows you to make online payments from your mobile, tablet, or smartwatch without carrying your physical card or cash.
What are the top mobile wallet accounts available in Pakistan?
Some of the top mobile wallet accounts available in Pakistan include Easypaisa, JazzCash, SadaPay, Konnect by HBL, PayPak, and FirstPay.
What services are offered by Easypaisa?
Easypaisa offers services such as money transfers, savings plans, utility bill payments, top-up wallets, invite & earn programs, and insurance plans.
What are the key features of Easypaisa?
Easypaisa offers high account limits, biometric verification, transparent pricing, monthly prizes, and a variety of financial services.
How can I set up a SadaPay account?
To set up a SadaPay account, download the SadaPay app, register with your details, and follow the verification process to start using the account.
What are the benefits of using JazzCash?
JazzCash offers a range of services, including instant payments, mobile recharges, bill payments, international payments, and access to exclusive discount deals.
How can I register for a Konnect account?
To register for a Konnect account, download the Konnect app, select the ‘Register New Account’ option, fill in the required details, and verify your mobile number to complete the registration process.
What are the account limits for Level 0 and Level 1 accounts in branchless banking?
For Level 0 accounts, the daily transaction limit is Rs. 25,000, and the monthly transaction limit is Rs. 50,000. For Level 1 accounts, the daily transaction limit is Rs. 50,000, and the monthly transaction limit is Rs. 200,000.
What are the features of the FirstPay wallet account?
The FirstPay wallet account offers features such as instant money transfers, mobile top-ups, utility bill payments, nano loans, account linking/de-linking, debit card issuance, debit card management, invite & earn programs, and request money options.
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