Amaana.com’s Beta version attracts tons of users…

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Amaana.com, what i like to call “our” version of Paypal has recently launched a refferal program to sign on users to its beta program. Refer someone to Amaana, and if they sign on you get rewards, such as money (Rs 25) or from what I hear, pre paid airtime. Its a good idea, they’ve got alot of users signed on, and this helps them put the actual product through its paces and resolve the issues they have been having with it before a formal launch.

Amaana has been around for more than a year, promising to make the dream of paying someone through your cellphone a reality. I get geeky goose bumps thinking I can pay my friends back for the lunch they bought me by using my cellphone! The business model has got immense potential, especially in our country where most people do not use a credit card online. Provided they get their product off the ground as soon as possible, they can be really successful…though the beta test has lasted several months now.

To sign on for the beta and try the service out go here:

https://www.amaana.com/beta/getHome.do

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8 thoughts on “Amaana.com’s Beta version attracts tons of users…

  1. yes it seems mobile phone payments will be used more ‘frequently’ than credit card payments. But i don’t see people paying more than 200 Rs via mobile phones. Most people will probably limit to 25-30 rs.

    credit card usage is must for higher value transactions. but then why did we ever invent the Rs. 5000 note?

  2. agreed, most cellphone transactions would not be more than 30 rs or so for the most part, 80% would probably be of low value…but then thats where the volumes are….there are more people each day who make a rs 20 payment than they are who make a rs 3000 payment…..

  3. You also have to look at another angle here, micro payment for anything “other” than telecommunication, comes under the perview of “banks/financial institutions” as per SBP’s definition. This is ONE reason why you haven’t seen Mobilink gone into mobile payments – because banks HAVE successfully argued that no one can unilaterally take payment, do accounts funds transfer, and pay for goods, electornically other than banks and SBP has conceeded to this.

    The other threat that permeates is that Orix Leasing’s financial network could also be threatened and also that PTA’s license is grey about micro-payment handling other than the license carrier’s own payments. Micro payments are anything under Rs. 2,000.

    Bottomline: I think when push comes to shove, banks will over-rule all.

  4. Amaana has actually been at it for almost four years. They initially were looking at a money transfer service but UBL’s click and remit service pre-empted them to reconsider.

    Pakistan’s badly needs such services, especially those that can be used to process customer payments online. Citybank approves about 1% of all e-merchant account applications and has virtually suspended new issuances. Sadly, it is the only bank in Pakistan issuing online merchant accounts.

    Amaana needs to prove that they can execute. They are currently trying to raise $500,000 in financing to help launch them forward and I hope they succeed. Otherwise their execution woes may continue.

  5. Imran Ali Rashid

    I think its a great idea and is very much needed.

    I was discussing the launch of a website with a friend and we were discussing payment models. Our audience includes a certain group of teenagers. They obviously will not have credit cards but most of them will have cell phones, so the idea of being able to pay for services through the cellphone is a dream come true for a lot of people.

  6. anon

    I heard about this service and none of it was good. Infact, apparently its not even working for the only service offered which is airtime. Probably related to the comments left on youtube about the poor financial management. reminds us of the word baymaana – as in untrustworthy.

    How can a service offering financial services operate in pakistan with strong competitors such as genie and techlogix and deny their existence as though they are not comparable.

    Anyhow, I’m skeptical about this amaana. Unfortunately too many companies come to pakistan offering a service that they feel people need, which they definately do in this case. However, many of those companies cry wolf and destroy the reputation of the industry leaving real opportunists with brilliant models and even better execution high and dry because of their poorly managed predecessors.

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