Telenor Group via an agreement with MasterCard has launched its first wholly-owned financial institution Telenor banka in Serbia to provide customers with innovative mobile banking services. Telenor banka customers will be able to open their account at Telenor service shops across Serbia. They will be able to access the bank’s own and other ATMs for money withdrawals and deposits.
The opening represents a milestone in the company’s development of online financial services and mobile banking in Europe, adding to to its existing Pakistan’s Easypaisa service, the third largest mobile money deployment in the world.
Telenor group which bought KBC Banka in 2013, said that the digitalization of cash payments and the convenience of online and mobile banking are expected to stimulate financial and economic growth in Serbia, where some 80 percent of transactions are currently performed in cash. The online bank is set to encourage more consumers of the nation of 7 million people, to save via bank accounts, build credit histories, and pay for transactions digitally versus cash, said Telenor.
