SBP Gives Approval to PaySa to Establish E-Money Operations

The State Bank of Pakistan (SBP) has recently granted an In-Principle Approval (IPA) to PaySa, allowing it to operate as an Electronic Money Institution (EMI) in Pakistan. This approval represents a significant step forward for the country’s digital payments landscape.

Unlike previous approvals that primarily focused on consumer and merchant wallets, PaySa’s license includes an additional business segment covering POS and QR acquiring. This expansion reflects SBP’s commitment to fostering innovation in digital financial services.

Established in 2022, PaySa aims to simplify payment processes and contribute to Pakistan’s digital transformation. In collaboration with Meezan Bank Limited, they are actively rolling out POS terminals to encourage wider adoption of digital payments. Through this EMI license, PaySa’s users will be able to digitally open e-money accounts, perform transactions with ease, and access services like cash withdrawals, bill payments, money transfers, debit card payments, and QR payments—all from the comfort of their homes.

As PaySa CEO Ali Adnan, CFA stated, their mission is to provide innovative, accessible, and affordable financial solutions to individuals and businesses alike. This development positions PaySa to play a pivotal role in shaping the future of digital financial services in Pakistan.