Karachi: easypaisa has launched an enhanced credit score visibility feature designed to elevate financial awareness and empower users in managing their financial health. This cutting-edge feature provides unprecedented access to users’ credit scores directly within the easypaisa app, addressing a critical gap in Pakistan, where understanding of credit scores is limited. A major challenge in our financial industry has been the lack of availability of credit score information for users. easypaisa’s new feature enhances the credit score facility by empowering users to take control of their financial well-being while simultaneously educating them on how their transaction, credit, and deposit behaviors impact their credit score.
The feature is enriched with a dynamic credit score dashboard, providing users with a clear view of their current credit score and its trends over the past 12 months. This in-depth analysis offers a transparent and detailed financial perspective that supports informed decision-making.
The feature also empowers users to understand the key factors influencing their easypaisa credit score, encompassing critical aspects of their financial health such as spending habits, loan management, savings, and in-app subscriptions. For instance, the feature analyzes customers’ digital payment behaviors—including money transfers, bill payments, mobile top-ups, and QR payments—enabling them to better comprehend their financial habits. It encourages users to increase financial transactions in areas where they may be less active and raises awareness about their transaction patterns. Loan management is another significant factor, allowing users to track their borrowing history with easypaisa, including the amount borrowed, frequency of borrowing, on-time repayments, and any late payments over various time frames (1 month, 3 months, 6 months, and 12 months).
Savings also play a crucial role in the credit score, helping users understand their deposit patterns, including the total amount saved, frequency of deposits, average balance over specific periods, and any days with zero balance. This comprehensive approach provides users with a detailed understanding of their financial behavior, encouraging more informed and proactive financial management.
Additionally, the feature offers personalized recommendations powered by advanced machine learning algorithms. These tailored suggestions help users optimize their scores and reach their financial goals, enabling them to confidently manage their credit journey with comprehensive insights and actionable advice readily available.
Muhammad Khurram Waraich, Head of Digital Lending & Data Science at TMB/easypaisa, commented, At Easypaisa, we are dedicated to fostering innovation and providing inclusive financial solutions for millions of Pakistanis. In an economy where credit is scarce and financial literacy is limited, our enhanced credit score feature aims to elevate awareness and understanding of credit scores. This initiative empowers users to actively manage their digital banking journey, monitor their scores with data-driven insights, and take control of their financial health with clear and transparent visibility.”
With this level of transparency, users can take steps to improve their credit scores and unlock incentivized offerings within the easypaisa app, such as lower borrowing costs and higher credit limits. easypaisa will continue to refine and expand this proposition, drawing on user feedback and insights to explore broader horizons.
As a leader in driving financial inclusion through digital banking, easypaisa remains dedicated to providing transparency and education, empowering consumers to take control of their financial futures. With over 45 million registered users and counting, easypaisa continues to lead Pakistan’s digital financial services landscape, fostering financial inclusion through technological innovations.
