Independent Report. Karachi. Nov. 21
In a significant development, the State Bank of Pakistan has granted a license to E-Processing Systems Private Limited (EPSP) to operate as an Electronic Money Institution (EMI).¹ This license allows EPSP to offer e-money wallets to customers, merchants, and agents, promoting digital financial inclusion and convenience.
*Licensed EMIs in Pakistan:*
– _NayaPay Private Limited_
– _Finja Private Limited_
– _Sadapay Private Limited_
– _Akhrot Foyo Technologies Private Limited_
– _E-Processing Systems Private Limited_
*EMIs in Testing Phase:*
– _Wemsol Private Limited_
– _Hubpay Private Limited_
*EMIs with In-Principle Approval:*
– _YAP Pakistan Private Limited_
– _Sarimsma Private Limited_
– _Toku Lab Private Limited_
These institutions are currently preparing their organizational and technical infrastructure to commence testing operations.
This move is part of the State Bank’s efforts to promote digital payments, foster innovation, and increase financial inclusion in Pakistan.
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