Easypaisa has made history by becoming Pakistan’s first Digital Retail Bank after receiving commercial approval from the State Bank of Pakistan (SBP) on January 28, 2025. This transition, from a microfinance bank to a fully digital bank, marks a transformative shift in the country’s financial services.
Key Milestones and Achievements
Digital Banking Approval
Easypaisa’s conversion from Telenor Microfinance Bank to Easypaisa Digital Bank was officially approved by the SBP. This makes Easypaisa the first digital bank in Pakistan to launch regular operations, opening up a wide array of banking services entirely online for its customers.
Comprehensive Digital Services
Easypaisa digital bank is set to provide a secure and seamless digital banking experience, with products like digital term deposits (TDRs), digital lending options, current and savings accounts, digital wealth management tools, international remittances, and credit and debit cards—all accessible through mobile phones.
A Significant Leap in Financial Inclusion
With 50 million registered users and 31% of them being women, Easypaisa is one of the most widely used financial platforms in Pakistan. In 2024, the platform processed 2.7 billion transactions, valued at Rs9.5 trillion, accounting for nearly 9% of Pakistan’s GDP.
Vision for the Future
Board Chair Irfan Wahab Khan expressed his gratitude to the SBP and Easypaisa’s team, emphasizing the bank’s commitment to advancing financial inclusion and empowering millions of Pakistanis. CEO Jahanzeb Khan highlighted that Easypaisa is not only launching a digital bank but also creating access to banking services for millions of unbanked individuals.
Supporting Economic Growth
This pioneering move aligns with Easypaisa’s mission to dismantle traditional banking barriers, thereby contributing to Pakistan’s economic growth. The platform is positioned to create new opportunities, particularly for underserved populations, making a significant impact on the nation’s digital economy.
Easypaisa’s journey began in 2009 when it became the first branchless mobile money transfer service in Pakistan. Its evolution into a full-fledged digital bank is a testament to its vision of driving digital financial innovation and inclusivity.
