PaySa gets SBP nod for EMI operations

The State Bank of Pakistan (SBP) has given in-principle approval to PaySa Technologies to commence its EMI operations.

The Electronic Money Institution (EMI) has received a license to launch services, including an e-money wallet for consumers and merchants, along with POS and QR payment options.

PaySa, a startup founded in 2022, aims to offer digital payment and e-money solutions for individuals and businesses. Currently, six EMI operators are providing commercial services in Pakistan. Four have secured in-principle approval, and one has been permitted to start pilot operations. Meanwhile, four operators have withdrawn their licenses.

The expansion of EMI services is expected to boost digital transactions and improve financial inclusion in the country.