The State Bank of Pakistan (SBP) has issued a license to E-Processing Systems Private Limited (EPSPL), enabling the company to commence commercial operations as an Electronic Money Institution (EMI).
In its official statement, the central bank highlighted that EPSPL, under this license, will offer e-money wallets to consumers, merchants, and agents. This development brings the total number of EMIs operating commercially in Pakistan to five. The existing players include:
- NayaPay Private Limited
- Finja Private Limited
- SadaPay Private Limited
- Akhtar Fuiou Technologies Private Limited
- E-Processing Systems Private Limited
Upcoming Players in the EMI Space
Additionally, two EMIs—Wemsol Private Limited and HubPay Private Limited—are currently in pilot operations. Meanwhile, three others, namely:
- YAP Pakistan Private Limited
- Cerisma Private Limited
- Toko Lab Private Limited
have received in-principle approvals from SBP. These companies are in the process of building the necessary organizational and technological infrastructure to move to pilot operations, the SBP stated.
This steady growth in the EMI landscape reflects Pakistan’s commitment to expanding digital financial services, fostering financial inclusion, and supporting the broader digital economy.