Easypaisa, Pakistan’s leading mobile wallet company, has officially become the country’s first digital retail bank after receiving commercial approval from the State Bank of Pakistan (SBP) on January 28, 2025. This milestone, made possible with the support of Telenor Pakistan and Alipay (Ant Financial), marks a significant shift in Pakistan’s fintech landscape and digital transformation.
Easypaisa, originally a mobile wallet service, has grown into a key player in Pakistan’s financial sector, handling 9% of the nation’s GDP. The platform boasts 50 million registered users, with one in four adults in Pakistan holding an Easypaisa account. This achievement underscores the company’s commitment to financial inclusion and digital banking innovation.
Irfan Wahab Khan, CEO of Telenor, expressed pride in Easypaisa’s journey from a fintech pioneer to a fully licensed digital retail bank. He acknowledged the role of the State Bank of Pakistan and other stakeholders in supporting this evolution. The company processed PKR 9.5 trillion worth of transactions in 2024 alone, demonstrating its significant impact on the nation’s financial ecosystem.
Douglas Feagin, Director on Easypaisa’s Board and Senior Vice President of Ant Group, highlighted the transformation as a pivotal moment in Pakistan’s financial services sector, bringing safe, low-cost, and efficient financial solutions to the unbanked and underbanked populations.
With a 45% stake from Ant Group, Easypaisa continues to offer innovative financial services by leveraging Alipay’s technology to provide inclusive solutions across Pakistan. This milestone reinforces Easypaisa’s role as a major contributor to Pakistan’s digital future.
