Karachi: Easypaisa has made history by being the first digital retail bank in Pakistan to obtain commercial approval from the State Bank of Pakistan (SBP) to launch regular digital banking operations under its Licensing and Regulatory Framework for Digital Banks. On January 28, 2025, Easypaisa Digital Bank received approval to begin commercial operations during a formal licensing ceremony at the State Bank of Pakistan.
After receiving this approval, Telenor Microfinance Bank changed its name from “Microfinance Bank” to “Digital Retail Bank.” It will now be known as “easypaisa Digital Bank” (registered under the name “easypaisa Bank Limited”).Easypaisa’s transformation from Pakistan’s first branchless mobile money transfer service to the country’s first digital bank to open for business represents a revolutionary step in financial services, giving clients access to a full range of online banking options. The bank symbolizes a major paradigm change in digital financial accessibility and innovation by doing away with the requirement for traditional branch visits.
Easypaisa has established itself as a key player in Pakistan’s financial ecosystem, with 50 million registered users, representing one in four Pakistani adults, a strong 31% female user base, and 2.7 billion transactions processed in 2024 valued at PKR 9.5 trillion (roughly 9% of GDP).
