Tagged: pakistan

UK Fintech TransferWise Enables Instant Money Transfers to Pakistan (PKR), Sri Lanka (LKR), Thailand (THB)

UK-based Fintech TransferWise recently revealed that customers can now send money instantly to several developing economies in Asia including Pakistan, Thailand, and Sri Lanka. The TransferWise team noted: “In the past, if you were sending money to Thailand (THB), Pakistan (PKR), or Sri Lanka (LKR)… Read More

Pakistan’s Largest Transaction Clearing Facilitator, NIFT, Partners with Fintech Haball to Introduce Contexual B2B Payments

The National Institutional Facilitation Technologies (NIFT), the largest transactional clearing facilitator in Pakistan and Haball, a Fintech firm that provides various B2B services, have teamed up, in order to launch contextual payments for local companies. NIFT is a payment system operator and provider. It offers… Read More

Pakistani Fintech Firm SadaPay Receives “In-Principle” Approval from Nation’s Central Bank to Faciltate Digital Payments

SadaPay, an Islamabad-based Fintech firm, has reportedly been given in-principle approval by the State Bank of Pakistan, or SBP (the nation’s central bank). for an electronic money institution (EMI) license. SadaPay confirmed that the approval will allow it to provide certain financial services through its… Read More

COVID-19 Relief: Pakistan’s Digital Payments Firm EasyPaisa to Help Government Organizations Distribute Funds Following Coronavirus Outbreak

Earlier this month, Pakistan’s Easypaisa, a local provider of online financial services, teamed up with Zakat and Ushr department of the Government of (the province of) Punjab, in order to distribute funds to locals who have been impacted by the Coronavirus (COVID-19) outbreak and resulting… Read More

Digital Payments App EaisyPaisa Partners Seed Out, a Pakistani Crowdfunding Platform, to Digitize Payments Collection

Easypaisa, a widely-used digital payments app, is partnering with Seed Out, a Pakistani crowdfunding platform, in order to digitize the payments collection process. Seed Out aims to assist the underprivileged in Pakistan learn the entrepreneurial or business skills required to successfully launch their own company… Read More

Bill and Melinda Gates Backed Project: U Microfinance Bank and Karandaaz Pakistan to Help Women Gain Access to Modern Financial Services

U Microfinance Bank Ltd., a wholly-owned subsidiary of Pakistan Telecommunication Company Limited (PTCL) – Etisalat Company, has reportedly signed a grant agreement with Karandaaz Pakistan, a company that aims to promote improved access to finance for small business owners via an investment platform, and financial… Read More

World’s Most Valuable Fintech Ant Financial to Power Pakistan’s New Blockchain-based Payments Service

Ant Financial, an affiliated company of the Chinese Alibaba Group, is reportedly running the first international blockchain-powered payment service in Pakistan. This is a major milestone in the Asian nation’s journey to enable greater financial inclusion. Ant Financial is notably the world’s highest-valued Fintech firm,… Read More

UK’s International Funds Transfer Service PaySend Partners Pakistan’s JS Bank to Launch Digital Wallet for Freelancers

PaySend, a popular UK-established cross-border funds transfer service, has teamed up  with Pakistan’s JS Bank, in order to introduce the “Freelance Wallet” for freelance workers in the $300+ billion economy. Pakistan is notably the world’s fourth fastest-growing global economy for freelancers, with revenues recording an… Read More

Payoneer Teams Up with JazzCash to Allow Pakistani Freelancers to Easily Withdraw International Payments

It seems like there’s some good news finally for freelancers based in Pakistan. Global payments company Payoneer has teamed up with local firm JazzCash, a mobile payment provider, in order to allow Pakistani residents to receive funds from their Payoneer accounts directly into their JazzCash… Read More

Former Google Executive Tania Aidrus Chosen by Prime Minister Imran Khan to Lead “Digital Pakistan” Initiative

Tania Aidrus, a former director of products and payment at Google and former country manager (Singapore) for South Asia’s emerging markets at Google, has returned to Pakistan after spending 20 years working abroad. Aidrus will now be leading Pakistan into the digital age. The MBA… Read More

Pakistan’s Leading Energy Company, Byco Petroleum, Partners Bank Alfalah to Launch Digital Payments

Pakistan’s leading energy company, Byco Petroleum Pakistan Ltd, has teamed up with Bank Alfalah, one of the nation’s largest financial institutions, in order to introduce digital payments across Byco’s nationwide network of retail locations. Bank Alfalah has supported the OneQR concept. The bank will now… Read More

State Bank of Pakistan Announces New Digital Payments Adoption Strategy to Enable Greater Financial Inclusion, Especially for Women

The State Bank of Pakistan, the nation’s central bank, has announced the development of a new national digital payment systems strategy that is aimed at promoting financial inclusion, especially for women. Cash transactions dominate Pakistan’s $300+ billion economy, with most people receiving their salaries in… Read More

Pakistan-US Tech Exchange, a Leading Technology Exchange Program, Is Accepting Applications

Shahjahan Chaudhary, director at National Incubation Center Karachi, the largest startup incubator in Pakistan, noted that applications are being reviewed for the third cohort of the Pak-US Tech Exchange, the nation’s premier technology exchange program. Chaudhary, an MBA graduate from the Institute of Business Management… Read More

Leading Pakistani Bank Partners Ripple to Launch Digital Payments Solution

One of Pakistan’s largest financial institutions, Faysal Bank Limited (FBL) has launched a digital payments solution through a partnership with US-based  Ripple, a blockchain-based money transfer platform. FBL is one of Pakistan’s largest commercial banks with over 220 branches nationwide and assets totaling $1.5 billion…. Read More

WorldRemit Forms Partnership With MCB Bank For Digital Money Transfer to Pakistan

WorldRemit, a UK based Fintech in the digital money transfer sector, announced on Tuesday it has joined forces with MCB Bank (MCB) for digital money transfers to Pakistan. WorldRemit reported that transactions to Pakistan through its website and app grew by 75% in 2018, driven by… Read More

Pakistan Introduces Cryptocurrency Regulations at State Bank Ceremony

Pakistan legislators introduced proposed laws to regulate Electronic Money Institutions (EMIs) at a ceremony held at State Bank of Pakistan offices Monday in Islamabad, The Tribune reports. The rules were reportedly created at the behest of the country’s Financial Action Task Force and are intended to… Read More

Pakistan Officials Concerned Country’s First Bitcoin Kidnapping Could Inspire Others

Police used “digital technology” to trace and capture 6 men who kidnapped an IT professor in Pakistan March 19th, but officials reportedly fear that the case could trigger a “boost” in the prevalence of cryptocurrency-related ransom and terror-financing events in Pakistan. According to Pakistani media… Read More

“Almost All” Pakistani Banks’ Customer Data Breached in Recent Hacks

At least six banks in Pakistan have frozen their customers’ bank and credit cards and have suspended international remittances in the wake of news that, “almost all major Pakistani banks’ (customer data)” was hacked in recent security breaches, Geo News reports. According to Captain Mohammad… Read More

Pakistani Non-Bank Microfinance Tez Financial Services Secures $1.1 Million Through Seed Round Led By Omidyar Network

Tez Financial Services, a Pakistan-based fully digital Non-Bank Microfinance Company (NBMFC),  announced on Friday it secured $1.1 million in a seed round led by Omidyar Network, the impact investment firm established by eBay founder, Pierre Omidyar, with participation from Accion Venture Lab, the seed-stage investment initiative of global nonprofit Accion, and Planet N…. Read More

China: WeiyangX Fintech Review

China to Combine CBRC and CIRC According to a State Council reform plan that was presented for deliberation during the National People’s Congress on March 13, China will abolish China Banking Regulatory Commission (CBRC) & the China Insurance Regulatory Commission (CIRC). Instead, it will establish… Read More

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