easypaisa has achieved a groundbreaking milestone by becoming Pakistan’s first Digital Retail Bank to receive commercial approval for the commencement of regular digital banking operations from the State Bank of Pakistan (SBP) under its Licensing and Regulatory Framework for Digital Banks. Approval to launch commercial operations was accorded to easypaisa digital bank on January 28, 2025, in an official licensing ceremony held at the State Bank of Pakistan.
With this approval, Telenor Microfinance Bank has been converted from a “Microfinance Bank” to a “Digital Retail Bank,” and will now be operating under the name “easypaisa digital bank” (Registered name: “easypaisa Bank Limited.”)
From being Pakistan’s first branchless mobile money transfer solution to becoming Pakistan’s first digital bank to launch commercial operations, easypaisa’s transition marks a transformative leap in financial services, enabling customers to access comprehensive banking solutions entirely online. By eliminating the need for traditional branch visits, the bank represents a significant paradigm shift in digital financial accessibility and innovation.
With 50 million registered users representing one in four Pakistani adults, a robust 31% women user base, and 2.7 billion transactions processed in 2024 valued at PKR 9.5 trillion (approximately 9% of Pakistan’s GDP), easypaisa has established itself as a pivotal player in Pakistan’s financial ecosystem.
easypaisa digital bank is poised to deliver a robust, secure, and seamless digital banking experience to millions of Pakistanis. As a pioneer in best-in-class digital financial solutions, the bank is introducing many products that are firsts in Pakistan, such as digital term deposits (TDRs) and digital lending options that are available on phone, along with a diverse range of innovative services, from digital current and savings accounts, digital wealth management tools, international remittances, to credit and debit cards,—all accessible digitally. These groundbreaking offerings aim to expand access to convenient digital banking services for a broader audience.
Irfan Wahab Khan, Board Chair, easypaisa digital bank, said, “This is a monumental milestone that reinforces easypaisa’s role as a trailblazer, becoming the country’s first Digital Retail Bank. This achievement reflects a shared vision championed by our Board and supported by our regulators. We extend heartfelt gratitude to the State Bank of Pakistan and our exceptional team for turning this vision into reality. Above all, the trust of our customers has been the cornerstone of this accomplishment. Looking ahead, we remain steadfast in our commitment to making a meaningful impact on Pakistan’s digital economy, advancing financial inclusion, and scaling digital financial services to empower millions of Pakistanis.”
Douglas Feagin, Director on the Board of easypaisa digital bank, President, Ant International & Senior Vice President, Ant Group, stated, “easypaisa’s evolution into a digital bank marks a significant milestone in Pakistan’s financial services landscape. Ant Group looks forward to further supporting this transformative journey and helping to empower millions of Pakistanis, driving greater financial inclusion and economic progress across the country.”
Jahanzeb Khan, CEO & President, easypaisa digital bank, added: “The realization of easypaisa digital bank is a pivotal moment for us—our sincere thanks to the supportive Board whose valuable guidance has been crucial in achieving this milestone. The entire team has worked relentlessly, turning our vision into reality. We are not just launching a digital bank, we are creating unprecedented access for millions of customers, enabling comprehensive banking services at their fingertips. Our commitment remains unwavering, to continue pioneering innovative digital financial solutions that redefine banking in Pakistan.”
easypaisa digital bank’s shareholders are Telenor Group, a leading a leading telecom operator in Asia and the Nordics, holding a 55% shareholding, and Ant Group, the world’s leading open internet platforms, which contributes 45% ownership.
easypaisa’s journey of innovation traces back to 2009 when it first received the groundbreaking branchless banking license from the State Bank of Pakistan. In 2023, it was among five participants granted Non-Objection Certificates for digital banking and notably emerged as the only incumbent bank to receive an In-Principle Approval.
This landmark development will significantly contribute to Pakistan’s economic resilience by creating new opportunities for underserved populations and positioning the nation at the forefront of digital financial innovation. By dismantling traditional banking barriers, easypaisa is helping to unlock the immense potential of Pakistan’s emerging digital landscape, fostering economic growth and creating sustainable pathways for development.
