Pakistan is accelerating its efforts to build a cashless and digitally enabled economy, with a focus on increasing financial inclusion, expanding digital payment solutions, and improving access to formal financial services for individuals and small businesses. A high-level meeting at Finance Division reviewed the national digitization agenda, covering the development of digital infrastructure, payment systems, and the digitization of government-related payments, according to a press release. The session was chaired by Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb and included participation from Mr. Douglas Feagin, President Ant International and Senior Vice President Ant Group, Mr. Irfan Wahab Khan, Chairman Easypaisa Digital Bank, and Mr. Jahabzeb Khan, President and Chief Executive Officer Easypaisa Digital Bank.
Senator Aurangzeb emphasized the role of digital banks and fintech platforms in promoting inclusive credit and targeted lending, particularly for underserved segments such as small farmers. He highlighted that scalable digital platforms are key to expanding agricultural lending and ensuring sustainable financial access initiatives. He also noted the importance of diversifying the investor base for domestic public debt and reducing distribution costs by enabling retail participation through digital channels, allowing citizens to invest in government securities securely and conveniently. The delegation expressed support for Pakistan’s digital economy agenda, recognizing that expanding digital payments and financial services could help document economic activity, broaden the tax base, and enhance overall efficiency.
Participants discussed strategies for scaling QR-code merchant acceptance, improving cross-border and wallet-based payments, and enhancing consumer awareness through education. Mr. Irfan Wahab Khan shared Easypaisa’s ongoing transition from payment services to a wider range of financial offerings, including savings, wealth management, and customer education initiatives. Conversations also addressed regulatory measures for virtual assets to safeguard consumers and ensure compliance, as well as exploring tokenization opportunities to strengthen capital market development. Both sides highlighted operational and compliance challenges, including biometric-based customer onboarding and verification costs, which are critical considerations for scaling digital finance solutions.
Senator Aurangzeb also briefed the delegation on Pakistan’s macroeconomic stabilization efforts and reform priorities, including tax base expansion, energy sector reforms, state-owned enterprises, and privatization initiatives. Mr. Douglas Feagin noted that expanding digital payments and financial services internationally has supported stronger documentation of economic activity and tax base growth, and he reiterated Ant International and Easypaisa’s commitment to increasing QR-code merchant adoption and consumer engagement through practical solutions. Both sides agreed to continue cooperation on merchant digitization, customer education, QR-code adoption, and access to regulated savings and investment products, with the minister inviting actionable proposals to further advance the government’s digitization objectives.
Follow the SPIN IDG WhatsApp Channel for updates across the Smart Pakistan Insights Network covering all of Pakistan’s technology ecosystem.
