easypaisa Becomes Pakistan’s First Digital Retail Bank with SBP Approval
Revolutionizing Financial Inclusion in Pakistan
A Historic Milestone in Digital Banking
easypaisa has achieved a groundbreaking milestone by becoming Pakistan’s first Digital Retail Bank to receive commercial approval from the State Bank of Pakistan (SBP) under its Licensing and Regulatory Framework for Digital Banks. The approval, granted on January 28, 2025, during an official licensing ceremony, marks the commencement of regular digital banking operations. This historic achievement transitions Telenor Microfinance Bank into “easypaisa digital bank” (registered as “easypaisa Bank Limited”), solidifying its position as a leader in Pakistan’s digital financial landscape.
JazzCash Unveils 3-Year Plan to Drive Pakistan Toward a Cashless Future
From its inception as Pakistan’s first branchless mobile money transfer solution to its evolution into a fully-fledged digital bank, easypaisa has redefined financial services. By offering comprehensive banking solutions entirely online, the bank eliminates the need for traditional branch visits, setting a new standard for accessibility and innovation in Pakistan’s financial sector.
A Trusted Platform with Nationwide Impact
With 50 million registered users—representing one in four Pakistani adults—easypaisa has become a cornerstone of the country’s financial ecosystem. The platform boasts a robust 31% women user base and processed 2.7 billion transactions in 2024, valued at PKR 9.5 trillion (approximately 9% of Pakistan’s GDP). These figures underscore easypaisa’s pivotal role in driving financial inclusion and economic activity across the nation.
easypaisa digital bank is set to deliver a secure, seamless, and innovative banking experience to millions. The bank is introducing pioneering products, including digital term deposits (TDRs), digital lending options, digital current and savings accounts, wealth management tools, international remittances, and credit/debit cards—all accessible via mobile devices. These offerings aim to expand access to digital financial services, particularly for underserved populations.
Karandaaz Report Highlights Digital Payments’ Potential to Transform Pakistan’s Economy
Leadership Perspectives on the Transformation
Irfan Wahab Khan, Board Chair of easypaisa digital bank, emphasized the significance of this milestone, stating, “This achievement reflects our shared vision and the trust of our customers. We are committed to advancing financial inclusion and empowering millions of Pakistanis through innovative digital solutions.”
Douglas Feagin, President of Ant International and a Director on the board of easypaisa digital bank, added, “Ant Group is proud to support this transformative journey, which will drive greater financial inclusion and economic progress across Pakistan.”
Jahanzeb Khan, CEO & President of easypaisa digital bank, highlighted the team’s dedication, saying, “We are not just launching a digital bank; we are creating unprecedented access to banking services for millions. Our focus remains on pioneering solutions that redefine banking in Pakistan.”
A Legacy of Innovation and Future Growth
easypaisa digital bank is backed by its shareholders, Telenor Group (55%) and Ant Group (45%), both global leaders in telecommunications and digital finance. Since receiving its branchless banking license in 2009, easypaisa has consistently pushed the boundaries of innovation. In 2023, it was among five entities granted Non-Objection Certificates for digital banking and the only incumbent bank to receive In-Principle Approval.
Easypaisa Launches “Insured Billboards” Initiative to Protect Billboard Installers
This landmark development positions Pakistan at the forefront of digital financial innovation, fostering economic resilience and creating opportunities for underserved populations. By dismantling traditional banking barriers, easypaisa is unlocking the potential of Pakistan’s digital economy, driving sustainable growth, and paving the way for a more inclusive financial future.
#easypaisaDigitalBank #FinancialInclusion #DigitalBanking #PakistanInnovation #SBPApproval #DigitalTransformation #FinancialEmpowerment #easypaisaMilestone #DigitalEconomy #BankingRevolution #AntGroup #TelenorGroup
- Visa Study: 70% of Pakistani SMEs Report Business Growth Through Digital Payments
- Karandaaz, GrowTech Join Hands for Farmers’ Empowerment
- Mashreq Reports Robust Q1 2025 Results with AED 3.1 Billion in Revenue and Continued Strategic Growth
- JS Bank Reports PKR 2.74 Billion Profit Before Tax for Q1 2025
- HBL Zarai Services Launches ANAAJ Wheat Initiative to Empower Farmers