Taking a major step forward in digitally transforming the\neconomy, the State Bank of Pakistan has issued NayaPay Pvt. Ltd. In-Principle\napproval to operate as an Electronic Money Institution (EMI).<\/p>\n\n\n\n
As an EMI, NayaPay will enable\nPakistanis to open E-Money accounts and make hassle-free digital payments to\neach other and to businesses. NayaPay places great emphasis on customer\nconvenience and has partnered with leading banks and other aggregators to\nfacilitate users with multiple avenues for cash withdrawal, loading and bill\npayment. Users will have ready access to their funds through the NayaPay app\nand associated debit card, accepted at any ATM across Pakistan as well as at numerous\nretailers. Users will also be able to pay NayaPay merchants instantly from\ntheir mobile phones using secure EMVCo. QR codes. <\/p>\n\n\n\n
Danish A. Lakhani, CEO, NayaPay\nsaid: \u201cE-Money will make financial services simpler, more convenient and\naccessible to the Pakistani user \u2013 the needs of whom have been overlooked for\nfar too long. As a home-grown platform, NayaPay will continue to drive\ninnovation and iterate to best address specific pain points of local users and\nbusinesses while strictly following international AML and CFT guidelines.”<\/p>\n\n\n\n
The In-Principle approval,\nsubject to terms and conditions mentioned therein, allows NayaPay to commence\nthe pilot phase of transactions in a controlled environment and under the SBP\u2019s\nsupervision to seek approval for the commercial launch of its services.<\/p>\n","protected":false},"excerpt":{"rendered":"
Taking a major step forward in digitally transforming the economy, the State Bank of Pakistan has issued NayaPay Pvt. Ltd. In-Principle approval to operate as an Electronic Money Institution (EMI). As an EMI, NayaPay...<\/p>\n","protected":false},"author":6,"featured_media":6905,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"image","meta":{"_mi_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[186,181],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www.digitaldips.pk\/index.php\/wp-json\/wp\/v2\/posts\/6904"}],"collection":[{"href":"https:\/\/www.digitaldips.pk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.digitaldips.pk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.digitaldips.pk\/index.php\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.digitaldips.pk\/index.php\/wp-json\/wp\/v2\/comments?post=6904"}],"version-history":[{"count":1,"href":"https:\/\/www.digitaldips.pk\/index.php\/wp-json\/wp\/v2\/posts\/6904\/revisions"}],"predecessor-version":[{"id":6906,"href":"https:\/\/www.digitaldips.pk\/index.php\/wp-json\/wp\/v2\/posts\/6904\/revisions\/6906"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.digitaldips.pk\/index.php\/wp-json\/wp\/v2\/media\/6905"}],"wp:attachment":[{"href":"https:\/\/www.digitaldips.pk\/index.php\/wp-json\/wp\/v2\/media?parent=6904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.digitaldips.pk\/index.php\/wp-json\/wp\/v2\/categories?post=6904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.digitaldips.pk\/index.php\/wp-json\/wp\/v2\/tags?post=6904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}