After one year of inspection, the State Bank of Pakistan has finally given approval to NayaPay to operate as the first Electronic Money Institution (EMI) in Pakistan. NayaPay will now be able to launch its consumer application which will allow users with a digital wallet to control their money anywhere and anytime. Users can now easily transfer money with ease using the app’s user-friendly interface.
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Once the users sign-up they will be assigned a virtual Visa card which will enable them to make purchases on websites like Amazon, Facebook, AliExpress, etc. Moreover, users can also order a physical Visa debit card which is free of cost and will be delivered to their doorstep. Through this debit card, customers can make transactions with over 46 million merchants globally!
Danish A. Lakhani, Founder, and CEO shared his views on the occasion,
“We are delighted to have the confidence and support of the State Bank in our mission to enable a range of new services that previously were only accessible by a small segment of Pakistani society. We believe that the future of commerce is fast, accessible, and ubiquitous – NayaPay aims to be at the forefront in the digitization of Pakistan with our low-cost and secure digital platform which enables payments, communications, and intuitive interactions between individuals and businesses.”
In the past few months, NayaPay has partnered with several banks to help their users offer transactions with merchants. You can use the NayaPay Visa debit card to make your online payments, fund transfers, bill payments, etc.
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