SBP grants license to EPSPL as fifth electronic money institution
Islamabad: The State Bank of Pakistan (SBP) has officially issued a license to E-Processing Systems Private Limited (EPSPL), allowing the company to commence commercial operations as an Electronic Money Institution (EMI). is With this approval, EPSPL joins four other EMIs — NayaPay Private Limited, Finja Private Limited, SadaPay Private Limited, and Akhtar Fuiou Technologies Private Limited — which are already offering e-money services to consumers, merchants and agents in Pakistan. have been
According to the central bank, EPS will provide e-money wallets, which will further improve the digital payment landscape in the country. The issuance of this license brings the total number of EMIs actively operating in Pakistan to five, with two others—Wemsol Private Limited and HubPay Private Limited—currently in pilot operations.
The SBP also noted that three additional EMIs-YAP Pakistan Pvt Ltd, Serizma Pvt Ltd, and TocoLab Pvt Ltd have received in-principle approval and are preparing their organizational and technical infrastructure to start pilot operations soon. are in process.
The move marks the State Bank’s growing support for the fintech sector, with an increasing number of companies entering the market to provide digital financial solutions, increasing access to electronic payments and digital wallets across Pakistan. is
