Islamabad: The State Bank of Pakistan (SBP) has officially issued a license to E-Processing Systems Private Limited (EPSPL), allowing the company to begin business operations as an Electronic Money Institution (EMI). With this approval, EPSPL joins four other EMI companies – NayaPay Private Limited, Finja Private Limited, SadaPay Private Limited and Akhtar Fuiou Technologies Private Limited – which already provide e-money services to consumers, merchants and agents in Pakistan.
According to the central bank, EPSPL will provide e-money wallets, enhancing 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 more – Wemsol Private Limited and HubPay Private Limited – currently in pilot operations.
SBP also noted that three additional EMIs – YAP Pakistan Private Limited, Serisma Private Limited and Toco Lab Private Limited – have received in-principle approval and are in the process of developing their regulatory and technological infrastructure to begin pilot operations soon.
The move underscores BSP’s growing support for the fintech sector, with an increasing number of companies entering the market to offer digital financial solutions, expanding access to electronic payments and digital wallets across Pakistan.