ISLAMABAD: Easypaisa has launched its NewGen Account for children and teenagers aged between 12 and 17, allowing parents to open digital accounts in their children’s names and give them access to basic financial services.
According to details available on Easypaisa’s official website, the account is opened and managed initially by a parent, while the young account holder can use a range of digital payment services, including money transfers, mobile top-ups, savings and QR payments.
How to open a NewGen Account
Parents can open the account through the Easypaisa mobile app by logging in and selecting the Open NewGen Account option from the profile menu.
They are then required to provide the child’s relevant information, including a mobile phone number, Form-B or CNIC number and the date of issuance of the identity document.
Once the account has been created, the child can log into the Easypaisa app and set up a personal PIN to access the available services.
What services are available?
The NewGen Account provides young users with access to several basic digital financial facilities, including mobile balance top-ups, money transfers, savings and QR-based payments.
Easypaisa says the initiative is aimed at helping young people become familiar with digital financial services and develop basic money-management skills at an early age.
A parent can open up to two NewGen Accounts, according to the information provided by the company.
What happens when the account holder turns 18?
Once a NewGen Account holder reaches the age of 18, the account holder will be required to update their CNIC information.
After the identity details have been updated, the account can continue to be used as a regular Easypaisa account, according to the company.
The NewGen Account provides parents with a way to introduce teenagers to digital payments, savings and everyday financial transactions while giving them access to age-appropriate banking services.
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