NayaPay Greenlighted by SBP for Pilot Operations
May 18, 2020
The State Bank of Pakistan has permitted NayaPay (Pvt.) Limited, an upcoming E-money Institution (EMI), to commence operations on a limited scale. It is the second company to be provided such permission.
The pilot stage is a precursor to the full launch of the services and features of the EMI to the general public. Over the course of the pilot, NayaPay will sign up users under the supervision of the SBP and demonstrate its go-to-market readiness to qualify for commercial approval. The digital payments company will also use the opportunity to actively solicit and incorporate user feedback before launching full commercial operations.