Moaaz Manzoor

Pakistan’s push for financial inclusion has received a strong endorsement at Money20/20 Middle East expo in Riyadh, where easypaisa Digital Bank President & CEO Jahanzeb Khan underlined the role of localized digital innovation in connecting millions to the formal economy, reports Wealth Pakistan.

Speaking at a panel titled “Future of Global Finance is Local+Digital” alongside senior executives from Visa and STC Bank, Khan stressed that Pakistan’s first digital retail bank is uniquely positioned to become a gateway for remittances, small business payments, and freelancer earnings – the areas that remain critical to the country’s economic revival.

“Families receiving remittances, entrepreneurs managing cross-border trade, and freelancers bringing in foreign exchange all represent the new frontier of financial inclusion,” Khan said, adding that easypaisa’s ambition is to make cross-border payments faster, cheaper, and more accessible.

“This will not only transform household livelihoods but also strengthen Pakistan’s foreign currency inflows,” he said. Khan said with over 60% of Pakistanis now financially included, the next leap would depend on localized digital solutions tailored to ground realities.

He pointed to easypaisa’s 2024 footprint—2.7 billion transactions worth PKR 9.5 trillion, equivalent to 9% of GDP, and a customer base representing one in every five citizens—as proof of how technology can bridge gaps in one of the world’s largest unbanked economies.

Khan also credited the State Bank of Pakistan’s cashless economy initiative for laying the groundwork. “Easypaisa will continue to support the regulator in building a more interoperable, secure, and inclusive ecosystem,” he noted, calling it part of the bank’s mission to democratize financial services.

The panel highlighted how global collaboration is shaping localized solutions. Leveraging Ant International’s expertise, easypaisa is rolling out AI-driven tools, eKYC processes, and mobile platform-as-a-service models to create new use cases for Pakistani customers.

Panelists agreed that such innovation is key to ensuring underserved groups, particularly women, freelancers, and micro-entrepreneurs, gain equitable access to digital finance.

Money20/20, one of the world’s premier fintech forums, serves as a platform to showcase how banks, fintechs, and regulators can cooperate to unlock new growth in emerging markets. Easypaisa’s participation underscored Pakistan’s growing relevance in the global fintech conversation.

With 31% of its customer base comprising women and a strategic focus on cross-border flows, easypaisa is positioning itself not only as a domestic financial disruptor but also as a conduit linking Pakistan to the global digital economy.

Credit: INP-WealthPk