KARACHI: Pakistan’s first and largest branchless banking service and a joint venture between Tameer Microfinance Bank and Telenor Pakistan, Easypaisa has collaborated with Roshan Energy to launch a first of its kind Solar Home Solution. The innovative pay-as-you-go model enables customers to purchase and use Roshan Energy’s reliable solar solutions with an upfront payment of just 15%, whereas the remaining paymentscan be paid within 18 months through Easypaisa.
The product is based on a unique Pay As You Go (PAYG) model allowing users to top-up their Solar Home Solutionfrom any of the 55,000 Easypaisa shops across the countryor directly through their Easypaisa Mobile Accounts. The Solar Kitshave a unique microcontroller which shuts down the Solar System automatically once the Top-Up amount has been consumed.Once all instalments are paid, the microcontroller becomes inactive and the Solar Solution will continue functioning without any further Top-Ups required. The ownership of the Solar Kitis transferred over to the customer upon consuming a total recharge amount equalto the total cost of the solar kit.
This unique model has empowered customers to pick whether they want their solar equipment to work for a full month or just for a day.Currently, there are three Solar Solution Models being offered ranging from 30 to 100 watts solar panels.
On this occasion, Nadeem Hussain, CEO Tameer Microfinance Bank said,“We have always aimed at developing products that change people’s lives for the better. Easypaisa is committed to accelerate socio-economic development by empowering people through innovative technologies. The launch of the Solar Home Solution is yet another testament of our vision to empower Pakistanis by delivering groundbreaking services with a transformative effect.”
Uzair Tahsin, CEO of Roshan Energy,sharing his views said ”Low income consumers can afford a small Solar Home System provided the payment plan matches the existing payments structure for Kerosene, Candles, Batteries and Phone Charging. We have transformed electricity expenditure into an asset purchase.”
Expressing his delight, Yahya Khan, Chief Financial Services Officer, Telenor Pakistan said, “This initiative will empower nearly 40% of the Pakistanis who live off the gridwith access to clean and affordable solar energy. A large number of our rural population lacks access to the electricity and are dependent on expensive, inefficient fuel-based sources. The Solar Home Solution will providea sustainable, affordable and long-lasting electricity solution,” he added.
The Solar Home Solutionhas been rolled out in Hyderabad, Thatta, Badin, Tharparker and Rahim Yar Khan so far. Currently, the loan applications are accepted at selected Tameer Bank branches and Telenor Sales & Service Centres, with the aim of extending the solution to all Easypaisa shops.