Tagged: pakistan

August 26, 2021 @ 3:44 pm By Omar Faridi  |  

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

August 9, 2021 @ 10:40 pm By Omar Faridi  |  

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

July 1, 2021 @ 10:58 pm By Tony Zerucha  |  

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

June 8, 2021 @ 11:07 pm By Omar Faridi  |  

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

June 7, 2021 @ 11:32 pm By Omar Faridi  |  

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

May 30, 2021 @ 7:05 pm By Omar Faridi  |  

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

May 24, 2021 @ 10:37 pm By Omar Faridi  |  

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

May 13, 2021 @ 10:00 pm By Omar Faridi  |  

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

May 4, 2021 @ 8:09 am By Samantha Hurst  |  

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

April 19, 2021 @ 9:37 pm By Omar Faridi  |  

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

April 17, 2021 @ 11:00 am By Omar Faridi  |  

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

April 9, 2021 @ 8:07 pm By Omar Faridi  |  

Western Union, a leading provider of cross-border, cross-currency money transfer services, is teaming up with Pakistan’s Faysal Bank in order to improve its real-time bank account transaction network. Receivers of global money transfers in Pakistan can take advantage of Western Union’s real-time account payout feature… Read More

March 31, 2021 @ 7:49 am By Samantha Hurst  |  

  SadaPay, a Pakistan-based fintech startup, has reportedly secured $7.2 million through its latest seed funding round, which was led by Recharge Capital with participation from Kingsway Capital, Raptor Group, Ualá’s founder Pierpaolo Barbieri, Ribbit Capital’s Brian McGrath, former General Catalyst partner Ilan Stern, and Valon Technologies’ founder… Read More

March 28, 2021 @ 8:25 pm By Omar Faridi  |  

The State Bank of Pakistan (SBP), the nation’s central bank, announced on Friday (March 26, 2021) that it has started working on a separate set of guidelines for virtual banks which will focus on “regional regulatory trends,” according to a report from local sources. As… Read More

March 24, 2021 @ 11:47 pm By Omar Faridi  |  

Supported by an upcoming generation of talented tech professionals, the Fintech industry is evolving rapidly in Pakistan. Fintechs could begin to make major contributions to the Asian country’s nearly $400 billion GDP. Professionals leading the country’s finance ministry and its reserve bank (the State Bank… Read More

March 20, 2021 @ 10:25 pm By Omar Faridi  |  

The team at SadaPay, a Pakistan-based online payments provider, notes that when products are developed with technology at the “core of the value proposition,” the customer interactions “tend to be digital as well.” As mentioned in a blog post by the Fintech firm, the human… Read More

March 14, 2021 @ 9:53 pm By Omar Faridi  |  

The State Bank of Pakistan (SBP), the nation’s central bank, stated on Wednesday (March 11, 2021) that all local banking institutions should offer a set of minimum services for Internet banking and mobile banking. The SBP says it wants to encourage or promote the use… Read More

February 23, 2021 @ 11:35 pm By Omar Faridi  |  

Islamabad-based Fintech firm SadaPay has introduced the region’s first numberless debit card. SadaPay’s management confirmed that the company’s debit card is now officially the first numberless card to be launched across all of the MENA region. The SadaPay team noted in a blog post: “This… Read More

February 14, 2021 @ 6:38 pm By Omar Faridi  |  

Karachi-based Fintech firm Safepay has reportedly acquired seed funding from global financial technology company Stripe. Safepay hasn’t disclosed the amount it has received but claims that it’s a seven-figure (USD) amount. Other local and international investors also took part in the Pakistani Fintech firm’s investment… Read More

February 11, 2021 @ 9:40 pm By Omar Faridi  |  

Arshad Mehmood Bhatti, Director, Exchange Policy Department at the State Bank of Pakistan (SBP), the nation’s central bank, has noted that the SBP has updated its Foreign Exchange Manual in order to facilitate local startups and Fintech firms in the country. The manual was also… Read More