The SBP has granted M/s Wemsol Private Limited a license to commence commercial operations as an Electronic Money Institution (EMI). Under the license, the EMI shall offer consumers and merchants e-money wallet and payment gateway services.

With this license, the number of EMIs undertaking commercial operations will increase to six (06), including M/s. NayaPay Private Limited, M/s. Finja Private Limited, M/s. SadaPay Private Limited, M/s. Akhtar Fuiou Technologies Private Limited, M/s. E-Processing Systems Private Limited, and M/s. Wemsol Private Limited.

In addition, one EMI, M/s. HubPay Private Limited, is currently in pilot operations. Meanwhile, three EMIs, M/s. YAP Pakistan Private Limited, M/s. Cerisma Private Limited, and M/s. Toko Lab Private Limited, have been given in-principle approval and are currently developing their organizational readiness and technological infrastructure to commence pilot operations.