Transferring money: Pakistan Post steps up competition by introducing e-service
Around 17 post offices offer Electronic Money Order service in 11 cities.
KARACHI:
To compete with banks and mobile networks offering quick and easy ways to transfer money, around 17 offices of the Pakistan Post have started offering Electronic Money Order (EMO) service in 11 cities on “lower transaction charges”.
The post offices, including six in Karachi, aim to facilitate people in transferring money across the country without any delays.
Officials said that Pakistan Post lost most of its money order business due to online banking and other private competitors.
“Initially, we were the only ones who offered money transfers, but our business went down because we were using old methods,” said Deputy Postmaster General Akbar Ali Dero. “Introducing the e-service is a step towards adopting modern techniques to survive in the industry.”
At present, the service is being offered at only 17 out of the 100 General Post Offices, said Dero, but eventually it will be extended to all the offices.
How to send money
Money can be transferred by filling out a form, with your name, mobile number, amount of money, recipient’s name and the Computerised National Identity Card number, at one of the post offices offering the service. The sender and receiver will receive a text message on their cellphones about the transaction. The money can be collected from any one of the designated post offices in the country.
According to Dero, amounts ranging from Rs500 to Rs100,000 can be transferred within seconds on cheaper transaction charges as compared to Easypaisa, UBL Omni and others. “We are charging Rs600 for transferring Rs100,000, whereas Easypasia only transfers up to Rs20,000 and charges more than us,” said Dero.
He added that being a government body, Pakistan Post has limited access to publicise its service through print and electronic media as compared to their competitors – citing that as the main reason for the slow response. The number of transactions per day, however, is increasing daily at the six offices in Karachi, said Dero.
“I prefer to use Pakistan Post’s money order service to send money to my family because its charges are low as compared to the private companies. The money reaches without any delay in both private and Pakistan Post services, but the services of the latter are cheap,” said Mohammad Haneef, a customer who sends money from the Saddar GPO to his family.
“I pay only Rs250 when I send Rs12,000 to my home while private companies charge Rs60 for a transaction of Rs1,000.”
Published in The Express Tribune, October 4th, 2012.
To compete with banks and mobile networks offering quick and easy ways to transfer money, around 17 offices of the Pakistan Post have started offering Electronic Money Order (EMO) service in 11 cities on “lower transaction charges”.
The post offices, including six in Karachi, aim to facilitate people in transferring money across the country without any delays.
Officials said that Pakistan Post lost most of its money order business due to online banking and other private competitors.
“Initially, we were the only ones who offered money transfers, but our business went down because we were using old methods,” said Deputy Postmaster General Akbar Ali Dero. “Introducing the e-service is a step towards adopting modern techniques to survive in the industry.”
At present, the service is being offered at only 17 out of the 100 General Post Offices, said Dero, but eventually it will be extended to all the offices.
How to send money
Money can be transferred by filling out a form, with your name, mobile number, amount of money, recipient’s name and the Computerised National Identity Card number, at one of the post offices offering the service. The sender and receiver will receive a text message on their cellphones about the transaction. The money can be collected from any one of the designated post offices in the country.
According to Dero, amounts ranging from Rs500 to Rs100,000 can be transferred within seconds on cheaper transaction charges as compared to Easypaisa, UBL Omni and others. “We are charging Rs600 for transferring Rs100,000, whereas Easypasia only transfers up to Rs20,000 and charges more than us,” said Dero.
He added that being a government body, Pakistan Post has limited access to publicise its service through print and electronic media as compared to their competitors – citing that as the main reason for the slow response. The number of transactions per day, however, is increasing daily at the six offices in Karachi, said Dero.
“I prefer to use Pakistan Post’s money order service to send money to my family because its charges are low as compared to the private companies. The money reaches without any delay in both private and Pakistan Post services, but the services of the latter are cheap,” said Mohammad Haneef, a customer who sends money from the Saddar GPO to his family.
“I pay only Rs250 when I send Rs12,000 to my home while private companies charge Rs60 for a transaction of Rs1,000.”
Published in The Express Tribune, October 4th, 2012.