Tagged: pakistan

$50M MENA Region Fintech Fund I Launched by Early-Stage VC Firm VenturesSouq

GCC-headquartered early-stage VC company VentureSouq has introduced a $50 million MENA region Fintech Fund I. As mentioned in the announcement, the MENA Fintech Fund I is the first sector-wide Fintech-focused fund to be introduced across the Middle East area and Pakistan. The new Fund is… Read More

Pakistan based Digital Payments Platform EasyPaisa Updated with Temenos Transact Core Banking

Temenos Transact Core Banking will be supporting product innovation and greater scalability and overall efficiency for Pakistan’s virtual payments platform Easypaisa. Telenor Microfinance Bank, which is the operator of Pakistan’s digital payments platform Easypaisa, has officially gone live on Temenos’ Core banking platform with NdcTech… Read More

Pakistan’s QisstPay Secures $15M, Cementing Business as Country’s Fastest-Growing BNPL Platform

QisstPay, which is one of Pakistan’s first Buy Now, Pay Later (BNPL) services, recently revealed that they’ve secured $15 million in capital as part of their seed and pre-seed rounds with “a mix of equity and debt.” MSA Capital reportedly led QisstPay‘s investment round, with… Read More

Verifff, an International ID Verification Service, Teams Up with SimpliFi, a Cards as a Service Platform

Veriff, an international ID verification provider, is teaming up with SimpliFi, a Cards as a Service (CaaS) platform for the MENA region and Pakistan, in order to protect SimpliFi clients from identity fraud within their “instant” card issuance programs. Through their partnership, Veriff will be… Read More

Pakistani Digital Banking Fintech Tag Acquires $12M via Round led by Liberty City Ventures

Pakistan-based virtual banking platform Tag has acquired more than $12 million in capital as part one of the largest seed rounds in Southeast Asia. With the capital injection, Tag’s valuation now stands at $100 million, with the firm managing to finalize the fundraising deal within… Read More

Contactless Biometric Verification Services Added for Pakistan’s Digital Banking, Payments Sector

The National Database and Registration Authority (Nadra) in Pakistan has added contactless biometric verification services for the nation’s banking and payments sector, making the Asian nation one of the first in the world to introduce the tech on a State-wide level. As first reported by… Read More

New Digital Commerce Payments Solution, NIFT ePay, Introduced in Pakistan

The National Institutional Facilitation Technologies (in Pakistan) and its business and tech partner TPS Worldwide, have introduced “NIFT ePay,” which is the nation’s all-inclusive payment gateway supporting business solutions beyond payments. As mentioned in a release, NIFT ePay supports digital commerce payments by aggregating different… Read More

Egypt based Fintech Kashat, a Micro Loan Provider, Acquires $1.75M in Capital

Egypt-based Kashat, a microloan services platform, has acquired $1.75 million in capital as part of a bridge round, according to a report from Magnitt. Kashat’s investment round has been led by VC fund Launch Africa Ventures, and also included contributions from regional investors, the report… Read More

Pakistani Online Payments Fintech SadaPay Explains how to Use their Virtual Debit Card

The team at SadaPay, a Pakistani online payments Fintech, notes that one of the things they felt was “lacking” in the nation’s financial landscape was a “fantastic” virtual debit card. As mentioned in a blog post by SadaPay, there are some virtual cards currently available,… Read More

Singapore Cross-Border Payments Fintech Thunes Partners Bank Alfalah to Enable Remittances to Pakistan

Singapore-based Thunes, a Fintech firm and an industry leader in global cross-border payments, reveals that it has teamed up with Bank Alfalah, which is one of Pakistan’s largest banking institutions. Through the partnership, the organizations aim to support real-time, cost-effective international  payments made to consumers… Read More

Pakistan Software Houses Association Says IT Firms Should be Able to Spend Export Earnings to Pay for Foreign Digital Service Providers

The Pakistan Software Houses Association had recommended to the State Bank of Pakistan (SBP) that IT firms should be permitted to use 20% of their export earnings to pay for foreign consultants, digital service providers, vendors (among other requirements) in order to conduct operations and… Read More

Pakistan’s UBL Recruits Temenos, National Data Consultant on Digital Journey

Pakistani digital bank UBL is partnering with Temenos and National Data Consultant to produce an omnichannel digital online banking platform digital banking solution. It builds upon UBL’s launch earlier this year of the Islamic Digital Account and UBL Pay, which allows customers to use phones… Read More

Fintech Adoption in Pakistan on the Rise with Record Levels of Funding Secured by Startups: Report

Pakistan has managed to attract a considerable amount of new capital to support its evolving Fintech sector and emerging startups. The significant increase in new funding actually began following the COVID-19 outbreak which led to many more consumers transacting online instead of visiting physical business… Read More

Fintech, AI, Data Science Startups Investor Planet N Receives Investment from Pakistan Kuwait Investment Co.

Pakistan Kuwait Investment Company (Private) Ltd (PKIC) recently made a PKR 500 million (appr. $3 million) equity investment into Planet N (Private) Ltd in order to support the fast-evolving startup sector in Pakistan. The new investment is reportedly part of Planet N’s $10 million funding… Read More

Karachi Fintech Seed Labs, Developer of Trading App dTrade, Acquires $6.4M from Alameda Research, Others

Karachi’s Seed Labs, which has developed a new trading app (called dTrade), has secured $6.4 million in capital through a seed funding round at a $50 million valuation. Seed Labs co-founders Ahmad Jawaid, Zabi Mohebzada, Rabeel Jawaid, and Yameen Malik have helped create the dTrade… Read More

Pakistan based Branchless Banking Fintech Eaisypaisa Launches API Developer Portal

Fintech Easypaisa has launched an API developer portal in order to enable seamless third-party integrations. Pakistan’s branchless banking service provider, Easypaisa, has confirmed that its API Developer Portal is now live. It may now be used by third parties for integration, sandbox testing environments, and… Read More

Pakistani Fintech SadaPay Shares How they Creatively Designed Payment Cards, Company Appoints New Head of Legal

Pakistani online payments Fintech SadaPay notes that it’s been well over three months now since they began rolling out their numberless debit cards. The SadaPay team points out that the designs “perfectly” fit their vertical debit cards. The company’s management noted that they wanted to… Read More

Pakistan Digital Financial Services Provider JazzCash Unveils Mobile App Specifically for Businesses

JazzCash, a Pakistan-based digital financial services provider, has launched its mobile app specifically for businesses. The app notably aims to make digital payments more efficient and easy to use for bsuiness owners, company managers, and home businesses. It will also help “kickstart” the digital payment… Read More

Pakistan to Conduct Research on Developing its own Central Bank Digital Currency to Enable Greater Financial Inclusion

Pakistan is reportedly planning to carry out studies in order to potentially launch a State-backed virtual currency so that it can enhance its existing banking system, enable greater financial inclusion, and also ensure that illicit activtiies such as money laundering are not being carried out… Read More

US Dept of the Treasury’s Office of Foreign Assets Control Sanctions Individuals, Entities for Attempting to Undermine 2020 US Presidential Election: Report

On April 15, 2021, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned 16 individuals and 16 entities for “attempting to undermine and influence the 2020 US presidential election,” blockchain security firm CipherTrace noted in a blog post. CipherTrace also mentioned… Read More

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