Mini App Platform for EasyPaisa

Abstract

Digital transformation is the biggest phenomena of today’s world. Digital transformation is actually the penetration and integration of digital technology in all areas of life whether it is business, household, education, sports, health, finance, agriculture or any other area in the life of human beings on this planet earth. Like any other area, digital technology has not only transferred but also revolutionized the finance industry as well. Today, we can see that there are more and more financial technology (Fin-techs) companies emerging and becoming integral part of our daily life. These companies are not only providing easy digital financial management solutions to their customers but are also facilitating them to interact digitally with multiple billers, sellers, merchants and beneficiaries to complete their financial transactions. In this way, these fin-tech companies have made this lifecycle very easy for both consumer and producers. In Pakistan, financial technology companies are also playing same role to digitalize financial management and transactions. A number of micro financial technology companies are currently doing successful business in the country. Top of the list are EasyPaisa, JazzCash and UBank. These companies are providing services like digital wallets, digital transactions, online purchases and digital money transfers. These companies also provide easy payment methods on number of sellers, billers and service providers for which they need to get integrated with respective partners to provide services to the customers of these fin-tech companies. For this business project, an idea has been shared for Fintechs in Pakistan to develop a platform where they can provide a framework to different partners and merchants for them to get easily integrated with their main platform or mobile application. In this way, not only the Fintech application will be able to facilitate its customers with a lot more services and products from different vendors and service providers, but this will also help other merchants and service providers to get easy access to millions of those particular Fintech application users as potential customers for their services and products. And finally, it will increase the subscribers and usage of the App by providing more and more services to the end customers. For this dissertation, only EasyPaisa and JazzCash will be discussed since these are the biggest Fintech brands in Pakistan.