Easypaise has stopped its virtual debit card service.
It works the same as any debit card does. As those cards could be used online so consumers also called them virtual credit cards.
Subul Naqvi, from the telenor bank’s corporate communications division, confirmed the development and said that the bank has discontinued the service for now.
While she didn’t tell the reason behind this, but she said that the service will be back soon.
She said that all the virtual debit card users were informed about this decision.
Easy paisa app users who were using the virtual debit cards were informed that the service will no longer be available if they used their cards online.
Our sources confirmed the reason behind the suspension of the service and came to know that the state bank of Pakistan asked the company to shut the service as microfinance banks are not allowed to make online payments.
State bank believes that such services could be misused. One example of misuse was that there was instance when the customers bought the postpaid cellular services online by virtual debit cards and deactivate it just before they get billed.
Easy paisa allows the customers to create as many cards as they want with a limit of 2 active cards at any given time. This means that the customers can create the cards use it and then delete it unlimited number of times.
You can imagine that how an online service that verifies the card and only billing the right amount after the month could be abused, especially if the virtual card is used for the same purpose and then deleted just before billing.
Easy paisa virtual debit card service was popular. It came as a relief for so many Pakistanis who needed a quick and easy way for online shopping, and as well as the online and off line transactions for so many mainstream services.