Freelancing in Pakistan gets another good news
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OPay International Pte Ltd, a comprehensive mobile payment service provider, is poised to enter the untapped Pakistani market and broaden its presence in the country's digital financial landscape. Recently, OPay received approval from the State Bank of Pakistan (SBP) to complete the acquisition of FINJA Pvt Ltd, a commercially active Electronic Money Institution (EMI) licensed company.
Ali Mubashir Kazmi, President of OPay, expressed optimism about the company's prospects, stating that they expect to operate as an EMI within three months. Notably, OPay has gained recognition by CNBC as one of the 'Top 200 Global Financial Technology Companies' with a valuation of $2 billion. Furthermore, OPay aspires to evolve into a fully-fledged digital bank in the future.
OPay's core offerings encompass digital payment solutions, digital wallets, and various financial services tailored to emerging markets in Africa and Asia, including countries like Nigeria, Egypt, and now Pakistan. In a statement, OPay reaffirmed its commitment to Pakistan despite facing multiple challenges and expressed a strong desire to replicate its successful performance in other markets.
Ali Mubashir Kazmi emphasized OPay's strategy of promoting financial inclusion, particularly in Pakistan, where there exists a substantial unbanked population that they aim to target and serve.
The entry of OPay into the Pakistani market represents a significant development in the country's digital financial sector. With the backing of the SBP and a track record of success in other emerging markets, OPay is poised to play a pivotal role in extending financial services to underserved populations, ultimately contributing to greater financial inclusion in Pakistan
