Tagged: pakistan

Fintech ABHI, a MENA Region and Pakistan based Earned Wage Access Provider, Enters New Partnership

Alraedah Digital Solutions, a technology company and the innovation arm of Alraedah Digital Group, is pleased to announce a strategic partnership with ABHI, a MENAP-based Fintech specializing in Earned Wage Access and Invoice Factoring. The collaboration marks a significant milestone in Alraedah’s commitment “to fostering… Read More

CBDCs: Pakistan Is Reportedly Exploring the Feasibility of Launching a Digital Currency

Pakistan’s Finance Minister Muhammad Aurangzeb recently stated that the nation’s government is looking into integrating digital currency transactions within the Asian country’s financial ecosystem. While addressing attendees at the World Economic Forum (WEF) special meeting held in in Riyadh, Minister Aurangzeb commented on Pakistan‘s efforts… Read More

Pakistan Issues License to Study Now Pay Later Digital Platform

The Securities and Exchange Commission of Pakistan (SECP) has awarded a Non-Banking Financial Company (NBFC) license to M/s Edufi Financial Services (Private) Limited. This license marks a notable advancement in the Pakistani financial sector by establishing the first digital platform for ‘Study Now, Pay Later’… Read More

Financial Inclusion: Elphinstone to Transform Pakistani Investing with Seamless USD Accessibility

In the “bustling” landscape of Pakistan, Elphinstone claims that it stands as a beacon of financial empowerment, offering “a gateway for the country’s burgeoning middle class to unlock their financial potential.” Co-founded by Farooq Tirmizi and Uzair Mahmud in 2020, Elphinstone addresses a critical pain… Read More

Fintech Giants Papara and SadaPay Merge in Multi-Million Deal

Turkish financial technology giant Papara has announced its acquisition of Pakistan’s emerging Fintech star, SadaPay, in a strategic all-stock deal valued between $30 to $50 million. The agreement also includes an additional $10 million investment from Papara to support SadaPay’s technological development and expansion strategies,… Read More

Pakistan’s NayaPay Partners with Alipay+, a Cross-Border Digital Payments Service Operated by Ant International

NayaPay, a financial platform, has partnered with Alipay+, a cross-border digital payments and marketing platform operated by Ant International. The collaboration between NayaPay and Alipay+ is set “to make a significant impact by deploying QR codes compatible with both RAAST and Alipay+ payment partners, including… Read More

Pakistan based Freelancers to Begin Accepting Payments Indirectly via PayPal as Part of Pilot Program

Pakistan’s Caretaker Federal Minister for IT and Telecom, Dr. Umar Saif said that there are some positive developments to look forward to this year. During an event called Tech Destination Pakistan, Dr. Umar Saif revealed that starting in February of this year, a pilot project should… Read More

Pakistan’s SECP Proposes Amendments to NBFC Rules

The Securities and Exchange Commission of Pakistan (SECP) has initiated a significant step towards refining the regulatory framework for Non-Banking Finance Companies (NBFCs) by proposing amendments to the NBFC (Establishment & Regulations) Rules of 2003. This move, aiming to modernize and streamline the sector, invites… Read More

Paymob, the Financial Services Provider in MENA and Pakistan, Teams Up with Tamara

Paymob, the financial services enabler in the MENA and Pakistan region, has announced its partnership with Tamara, the shopping and payments platform in the GCC region. The strategic partnership integrates Tamara’s Buy Now Pay Later (BNPL) service with Paymob’s secure gateway in order “to power… Read More

Central Banks Likely to Keep Interest Rates Higher for Longer in Economies with Elevated Core Inflation – IMF Analysis

Central banks will likely keep interest rates higher for longer in economies with persistently elevated core inflation (excluding food and energy prices), according to an update shared by the International Monetary Fund (IMF). The IMF noted that the high-interest-rate environment, which recently “triggered banking sector… Read More

Pakistan-based Fintech SadaPay Reveals How Retaining Earnings in USD with SadaBiz Can Maximize Benefits of Freelance Work

Pakistan’s Fintech firm SadaPay recently explained how retaining your earnings in USD with SadaBiz change the game for your freelancing career. With this feature, the Fintech company explains that it is turning your most requested need into a reality, reshaping how you interact with your… Read More

Fintech: UAE Recognizes Pakistani Fintech ABHI as Emerging Company

The United Arab Emirates (UAE) Ministry of Economy and the Government Development has nominated ABHI, a Pakistani fintech operator, as one of the emerging companies contributing significantly to the nation’s economic sector. This recognition came as ABHI recently inked a deal with Visa Inc. and… Read More

State Bank of Pakistan Launches Regulatory Sandbox for Fintech Sector

The State Bank of Pakistan (SBP) has launched a “regulatory sandbox” framework, issuing preliminary guidelines to foster innovation in the financial technology (Fintech) sector. This initiative, part of the central bank’s Vision 2028 strategy, aims to create a more collaborative regulatory environment for startups and… Read More

Fintech SadaPay Remains Focused on Supporting Pakistan’s Evolving Freelancer and Digital Economy

Pakistan has emerged as one of the fastest-growing markets for freelancers and digital services. Although the majority of the nation’s residents are living in poverty, and the country continues to face major political and economic challenges, there is still a significantly large digital economy that… Read More

Study Now Pay Later: Fintech EduFi Intoduces Digital Student Loan Platform in Pakistan

EduFi has launched the digital student loan platform in Pakistan, on a mission “to empower more students to achieve their academic pursuits.” Education is a lever of economic growth and social development “in any country but poor quality state school provision often drives many families… Read More

Apple Pay Integration by Fintech Platform SadaBiz to Streamline Invoicing for Pakistani Freelancers

In their pursuit to open up global avenues for local talent, the SadaPay team is pleased to announce an update to their freelancer account, SadaBiz. SadaPay users can now invoice their clients “using the world’s fastest-growing mobile wallet, Apple Pay.” Though Apple Pay hasn’t made… Read More

On-Demand Pay: Fintech ABHI and Pakistan Cables Ltd to Provide Earned Wage Access to Employees

ABHI, an embedded finance company announced a partnership with Pakistan Cables Limited, the cable manufacturer in Pakistan. This collaboration aims to provide AbhiSalary – Earned Wage Access “to the employees of Pakistan Cables Limited, thereby promoting financial wellness.” Through AbhiSalary – Earned Wage Access, employees… Read More

Virtual Banking: Pakistan Issues In-Principle Approvals to Digital Banks, as Nation’s Fintech Sector Expands

In order to support innovation, financial inclusion as well as the emerging digital financial services ecosystem, the State Bank of Pakistan (SBP) has reportedly issued In-Principle Approvals for launching five digital retail-focused banking platforms. Pakistan’s newly approved online banks reportedly include HugoBank, KT Bank Pakistan… Read More

ACE Money Transfer, Bank Alfalah Announce Remittance Deal

ACE Money Transfer, a Fintech company based out of Manchester, United Kingdom, has announced an enhanced partnership with Pakistani commercial institution Bank Alfalah. The union will enable overseas Pakistanis to remit money back home. ACE Money Transfer allows expatriates to send money from 28 countries… Read More

ACE Money Transfer Partners with Bank Alfalah to Facilitate Remittances to Pakistan

ACE Money Transfer, a fintech company based in Manchester, United Kingdom, has reinforced its longstanding partnership with Bank Alfalah, one of Pakistan’s commercial banks, to facilitate seamless remittance transactions for overseas Pakistanis. The collaboration was proudly announced along with Babar Azam, the Pakistan National Cricket… Read More

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