KARACHI: The State Bank of Pakistan (SBP) has given in-principle approval to fintech firm PaySa Technologies, allowing it to move forward with its plans to offer electronic money services.
With this approval, PaySa can now develop its digital wallet for both individuals and businesses, alongside enabling QR-based and POS transactions.
Founded in 2022, PaySa Technologies was established to simplify online payments and enhance e-money accessibility across Pakistan.
At present, four Electronic Money Institutions (EMIs) hold in-principle approval, while one has advanced to pilot operations. Meanwhile, six operators are actively offering commercial services, and four have opted to withdraw their licenses.