2 min read
Pakistan’s leading fintech company Haball, the country’s largest non-banking corporate aggregator, has secured in-principle approval (IPA) from the State Bank of Pakistan (SBP) for a Payment System Operator/Payment Service Provider (PSO/PSP) license.
This approval, combined with Haball’s earlier Payment Initiation Service Provider (PISP) license, positions the company to take full control of the end-to-end B2B payments experience in Pakistan’s supply chain ecosystem.
Strategic Significance
Historically, digital payments in Pakistan required fintechs to rely on banks, often leading to delays and poor user experience.
With Raast integration and the upcoming PSO/PSP license, Haball can initiate and settle payments instantly while keeping the entire journey invoicing, authorization, and settlement within its platform.
This gives businesses, distributors, and SMEs real-time visibility and access to financing without friction.
How It Works
- A distributor logs into Haball’s corporate portal to view invoices generated directly from the manufacturer’s ERP system.
- The distributor selects invoices and initiates payment through Haball.
- As a licensed PISP, Haball connects securely with the distributor’s bank via Raast for payment authorization.
- The transaction is authenticated and settled instantly under Haball’s PSO/PSP license.
- Both parties receive real-time payment updates, eliminating manual reconciliation.
Industry Impact
CEO Omer bin Ahsan emphasized:
“We’re not just digitizing supply chains, we’re redesigning them. With Raast and the PSO/PSP license, every invoice will be digital, every payment instant, and every SME empowered.”
The model addresses long standing liquidity gaps and reduces delays in Pakistan’s fragmented corporate payment systems a significant step for a market where millions of SMEs lack timely access to digital finance.
Backed by Funding and Regulation
In April 2025, Haball secured $52 million in equity and debt funding from VC investors and Meezan Bank.
Haball has also been part of SBP’s regulatory innovation initiative, ensuring compliance while testing Raast-based payment solutions.
The Bigger Picture
While the PSO/PSP license may not directly boost revenues in the short term, it grants Haball strategic control of digital touchpoints. This enhances speed, transparency, and user experience critical elements in an API driven financial ecosystem.
By reshaping how corporate payments are made and settled, Haball is positioning itself at the center of Pakistan’s digital supply chain transformation.
