Joint Secretary, Ministry of Science and Technology Dr. Tariq Masood, recently visited the office of Valyou, a financial technology subsidiary of Telenor Group in Kuala Lumpur, Malaysia.
He was briefed about the partnership between Easypaisa and Valyou for promoting remittances transactions to consumers in Malaysia and Pakistan.
He was informed about efforts being made in real-time remittance transactions with Easypaisa mobile wallet. Easypaisa and Valyou have collaborated to promote secure, instant and legal channels for remittances with new partners joining the network continuously. Their efforts are further strengthened by providing incentives for receivers, senders and other retail channels on both ends.
He later visited Valyou’s Cash In Cash Out merchants in the heart of Kuala Lumpur for a live demonstration on how transactions are performed between Valyou and Easypaisa Mobile Wallets.
Dr. Masood was all praise for the collaboration between Easypaisa and Valyou especially in terms of providing a formal channel for international remittances between Malaysia and Pakistan. He appreciated the efforts and ensured full support from the concerned department in Pakistan with regard to this initiative.
Chief Strategy and Transformation Officer Jahanzeb Khan Commenting on the occasion said “Easypaisa is revolutionizing the financial landscape in Pakistan by providing convenient and affordable financial payment solutions to millions of Pakistanis who do not have access to traditional banking channels. With the Easypaisa app, consumers now have access to a simplified medium for performing instant and secure remittance transactions between Pakistan and Malaysia without having to go through long, inconvenient processes.”
Earlier in the year, Pakistan’s first blockchain technology based cross border remittance service was launched which was introduced by Easypaisa, in partnership with Valyou of Malaysia. Backed by blockchain technology developed by the world’s leading online payment platform, Alipay, the service enables Pakistani residents of Malaysia to send money home “instantly and securely” using Valyou Telenor’s remittance service provider.
Telenor acquired Malaysia based money services business Prabhu Money Transfer SdnBhd in May 2016. The company was later branded as Valyou and introduced as a mobile wallet for offering convenient financial services solutions to consumers in Malaysia.
Valyou is accessible through a mobile application that enables users to leverage e-money services for performing a variety of transactions.