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Pakistan
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during 2025-2028
Popularity of e-commerce payment methods
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Local banks in Pakistan, such as Habib Bank Limited (HBL), United Bank Limited (UBL), Faisal bank, Alfalah, and Meezan Bank play a crucial role in enhancing the digital payment ecosystem. Their contributions are multifaceted, focusing on innovation, security, and customer engagement.
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Reasons for Popularity
HBL has launched its mobile application, "HBL Mobile," which offers features like instant fund transfers and online account opening. With over 2 million registered users, it significantly contributes to the digital banking landscape by providing user-friendly services tailored to customer needs.
UBL's "UBL Digital App" provides a seamless online banking experience for over a million users. The bank has integrated features like biometric authentication and an AI-powered chatbot for customer support, enhancing user experience and security.These banks focus on ethical banking practices and adheres strictly to Islamic laws, which resonates with financially conscious customers
JazzCash is a mobile app and digital payment service in Pakistan. It is a combined offering from the Jazz mobile network and its subsidiary, Mobilink Microfinance Bank.
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Reasons for Popularity
Extensive Network: JazzCash has a widespread network of over 300,000 locations accepting QR codes and is supported by over 80,000 retail outlets and merchants nationwide
Launched in 2009 by Telenor Microfinance Bank, Easypaisa was Pakistan's first mobile financial service app. It provides services such as money transfers, bill payments, mobile top-ups, and savings plans, accessible through a user-friendly mobile application. Easypaisa has a vast agent network, facilitating financial inclusion across the country.
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Reasons for Popularity
Extensive Network: Easypaisa has a network of over 180,000 registered agents across the country
Financial Inclusion: Easypaisa has brought financial services to the unbanked population of Pakistan, particularly in low-income groups and remote areas where traditional banks are reluctant to establish branches
Digital Lifestyle Solution: Easypaisa offers customers a complete digital lifestyle solution with over 50 use cases or digital payments services available on the platform, including digital lending, savings, and insurance products
Launched by Ufone, UPaisa provides mobile financial services such as money transfers, bill payments, and mobile top-ups. It leverages Ufone's telecom infrastructure to offer accessible financial services to its users.
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Reasons for Popularity
Partnerships Upaisa has partnered with organizations such as Daewoo Express, allowing customers to book and purchase bus tickets from any Ufone Service Center
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Zindigi is a digital banking application launched in Pakistan by JS Bank. Since its launch in January 2022, Zindigi has quickly gained popularity and is now among the top five most downloaded financial apps in Pakistan.
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Reasons for Popularity
Customizable user experience Zindigi provides Pakistan's first customizable digital experience, which has attracted millions of customers who appreciate its unique interface
Innovative features Zindigi provides real financial use cases, such as mutual fund investments and in-app stock trading, along with everyday payment options
The first E-money Institution in Pakistan NayaPay provides a digital wallet that allows users to send and receive money, pay bills, and make online purchases using a Visa debit card. It focuses on seamless user experiences and financial inclusion, offering services like peer-to-peer transfers and merchant payments.
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Reasons for Popularity
Mobile-First Approach: NayaPay utilizes a chat-led platform similar to WeChat Pay and AliPay, targeting Pakistan’s large mobile-first youth population
NayaPay aims to provide financial services to small merchants who are often excluded from traditional banking systems. It allows merchants to accept various payment methods through a simple link-sharing process
Konnect by HBL provides digital payment solutions allowing customers to enjoy a cashless lifestyle1 The platform has over eight million customers.
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Reasons for Popularity
Government Partnerships: HBL partnered with the government of Pakistan through Konnect by HBL on initiatives like the Ehsaas Emergency Cash Program, a social safety net initiative. HBL has disbursed over PKR 175 billion to more than 12 million households
Higher Returns on Savings: HBL Konnect offers higher returns on savings (18% annually) compared to EasyPaisa and JazzCash (7-8%)
