Pakistan is an emerging FinTech market. Financial inclusion and the facilitation of digital payments are now the top two priorities for FinTechs. Widespread internet and high smartphone penetration (about 68% of the population owns mobile phones) are causing fundamental shifts in e-commerce and consumer preferences.
The State Bank of Pakistan (SBP), the country’s central bank, and the Securities and Exchange Commission of Pakistan (SECP) are increasingly providing regulatory support to FinTech. Pakistan’s regulatory sandbox has been onboarding new FinTechs focusing on P2P lending, investment, retail banking, and cryptocurrency.
