Tag: NayaPay

State Bank grants approval to NayaPay to operate as EMI

The State Bank of Pakistan has granted an in-principle approval to NayaPay to operate as an Electronic Money Institution (EMI) in Pakistan. The approval will enable the company to “commence pilot phase of transactions in a controlled environment and under the SBP’s supervision to seek approval for the commercial launch of its services”. With NayaPay, customers will be able to open e-money accounts.