![]() Launched in 2009 by Telenor Pakistan and Tameer Microfinance Bank, it has reached a great status as the third-largest mobile payment method in the world with 7.4 million users.Īt the time of writing this article, Easypaisa was the only mobile payment service in Pakistan. With the mobile application of EasyPaisa users can recharge mobiles, buy data bundles, and do online shopping or pay utility bills. It is a mobile app-based payment method through which users can transfer and receive money securely. The bank is able to make that guarantee by putting on hold some amount in the payee’s bank account, which is equal to the value of the demand draft.Įasypaisa is the first digital payment method introduced in Pakistan by telecom operator Telenor. That is why most businesses in Pakistan will prefer that you pay them through a demand draft, instead of a payment order.Ī demand draft is the bank’s guarantee that it will pay the amount in full when the demand draft is presented. On the other hand, a demand draft can be cashed at any branch of the bank that issued it. A user is required to deposit cash in a bank which in return issues the user with a demand draft having information about the individual or university to which payment is to be made.Ī pay order is also called a banker’s check, and it can only be cashed in the same branch that issued it. Most of the universities are accepting the demand draft for fee submission. The payOrder or demand draft is mostly used for official purposes in Pakistan. Just like a bank transfer, you can do it online or visit your local branch.Īll you need to have is the receiver’s banking details, and enough funds in your bank account to cover the sending fees and the amount you want to send. The standard time for a wire transfer to complete is between 1 business day and 5 business days. Unlike a bank transfer, a wire transfer is likely to cost more. This method is also considered the safest for transferring payments.īank wire transfer in Pakistan is done between customers using different banks. The conventional wire transfer is usually sent from one bank to another bank with a SWIFT code. ![]() Most bank transfers are between customers of the same bank.Ī wire transfer is an electronic method for transferring payments. They can then click “send”, confirm those details, and then wait for the transaction to complete. Some banks may also request a reason for the transfer. Often, the only details they have to provide are the recipient’s name, bank branch name, and account number. Moreover, users can do a bank transfer online, by accessing their online banking portal and filling out the bank transfer details. This method is considered safest in Pakistan and the reason for its use. Users are filling out forms in banks and then deposit cash through their respective banks. Pakistan’s most widely adopted method for transferring and receiving money is conventional bank transfer. The following are the most widely adopted payment methods in Pakistan: Even as the cash method still remains dominant.Ī boost of $36 billion and a 7% GDP boost by 2025 is projected in a McKinsey Global Institute report on how digital finance would be a catalyst for these projected boosts, expected to create 4 million new jobs if it should keep growing. However, still, people trust conventional methods more than new online methods for transferring and receiving payments, despite this, the concept is continually evolving and amassing great momentum in the Pakistani market as the country has seen a surge in e-commerce businesses. Pakistan has seen a shift in transferring and receiving payments through the years. Blog for Programmers – Tutorials for developers, software reviews, tech trends, useful tools and lists.Watch PDF.co Webinar for Beginners – Free training webinar at PDF.co API platform.We Fight Against COVID-19 – Free licenses for projects fighting against COVID-19.Security – Security-related features of PDF.co API platform.Success Stories – Learn how our customers automated their business process by implementing PDF.co.MS Power Automate – PDF.co and Power Automate integration for data extraction.Salesforce – PDF.co and Salesforce integration for data extraction.Google Apps Script – PDF.co and Apps Script integration for data extraction.Postman collection – Use PDF.co in Postman environment.Make (Integromat) Plugin – PDF.co and Make (Integromat) integration for data extraction. ![]() Zapier Plugin – PDF.co and Zapier integration for data extraction.Video Tutorials – developer video courses, tutorials on how to use our API and integrations.Source Code Samples (JS, PHP, Java, C#, etc.). ![]() REST Web API – API Platform for PDF, barcodes, and spreadsheets. ![]()
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