Page 81 - CMA Journal (July-August 2025)

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CURRENT OUTLOOK traditional retailers, faster localized logistics,
influencer-driven social commerce, and the expansion of
As of mid-2025, Pakistan’s e-commerce market has cross-border e-commerce. The Pakistan Software Export
surpassed Rs. 200 billion in annual sales, supported by Board (PSEB) and Pakistan Telecommunication Authority
widespread smartphone penetration, enhanced 4G/5G (PTA) are actively promoting digital entrepreneurship,
connectivity, rising trust in online transactions, and while the ecosystem is being strengthened through tax
government initiatives to promote digital payments and exemptions for IT exporters and freelancers, initiatives for
entrepreneurship. Growth momentum is being fueled by women-led online businesses, the development of local
increasing adoption of mobile wallets such as JazzCash, payment gateways and unified QR code systems, and
Easypaisa, and SadaPay, the digitalization of SMEs and training programs aims to boost digital literacy.

 Branchless banking
& mobile wallets
 Internet banking LIST OF AUTHORIZED ELECTRONIC
penetration  QR code and POS
terminal proliferation MONEY INSTITUTIONS (EMIS)

DIGITAL PAYMENTS
 RAAST & interbank
clearing ECOSYSTEM  Cross-border
infrastructure remittance services

 Social media
commerce (Facebook,  Business models:
Instagram stores) B2C, C2C, B2B

L LIST OF AUTHORIZED VIRTUAL REMITTANCE GATATEWAY PROVVIDERS IN PAAKISTAN
I
1LINK Guarantee Ltd Interbank switch and diggital payment inffrastructure proovider.
k
a
NIFT (Pvt.) Ltd Digital payments processsor, known for NNIFT ePay and chheque clearing.
e
Avanza Premier Payment Services Payment systems operatoor and service pprovider (licenseed by SBP).
n
(APPS)
a
Safepay (Pvt.) Ltd Online payment gatewayy l checkout soluttions
P
ForeePay (Pvt.) Ltd. e e al-time digital paayment servicess
Accept Technologies (Pvt.) Ltd. Aggregator and paymentt facilitator
v
(Paymob)
g
C
ZING DigiComm (Pvt.) Ltd Emerging digital paymennt solutions provvider.
L
a
a
TPL Rupiya (Pvt.) Ltd Digital wallet and mobilee payment app
c
Mobi Direct (Pvt.) Ltd Licensed igital wallet andd merchant acquuiring services.
o
P
Infotech (Pvt.) Ltd Fintech solutions provideer across bankinng, capital markeets, and paymennts.
d
o
Webdnaworks (Pvt.) Ltd. Tech company involved in remittance annd digital servicees.
e
Euronet (Pvt.) Ltd Part of the global Euroneet group; involveed in remittancees, ATMs, POS, and
digital transactions.
a
Digital Retail Bank License Awardees
by SBP (as of 2025)
1. Easypaisa Bank Limited (formerly Telenor
– Awarded First
Commercial DRB License
Earlier NoCs issued in January 2023 to:
2. HugoBank Limited
3. KT Bank Pakistan Limited
4. Mashreq Bank Pakistan Limited
5. Raqami Islamic Digital Bank Limited
ICMA’s Chartered Management Accountant, Jul-Aug 2025 79