Pakistan, Ant Group discuss expanding digital payments & financial tech

The government on Thursday engaged with Ant Group, a global digital payment and financial tech firm based in Singapore and Easypaisa, Pakistan’s leading digital financial platform, to expand digital payments, financial inclusion, and technology-driven financial services in the country.

Federal Minister for Finance Muhammad Aurangzeb today met a delegation at the Finance Division comprising Douglas Feagin, President Ant International and Senior Vice President, Ant Group; Irfan Wahab Khan, Chairman, Easypaisa Digital Bank; and Jahanzeb Khan, President and Chief Executive Officer, Easypaisa Digital Bank.

The meeting focused on accelerating Pakistan’s transition towards a cashless and digitally enabled economy.

Welcoming the delegation, Aurangzeb underscored that the national drive towards digitisation has gathered strong momentum and clear performance targets are being pursued through a coordinated approach across key pillars covering digital infrastructure, payment systems and rails, and digitisation of government-related payments.

Meanwhile, Douglas Feagin reaffirmed Ant International and Ant Group’s commitment to supporting Pakistan’s digital economy agenda by bringing global experience, technology capabilities, and operational know-how gained across Asia to help expand cashless payment adoption and digital financial services.

He highlighted that the licensing of Easypaisa as a digital bank presents an important opportunity to accelerate capability building, deepen outreach, and advance the shift towards digital transactions.

During the discussion, Aurangzeb emphasised the role that digital banks and fintech platforms can play in enabling inclusive credit and targeted lending, including for underserved segments such as small farmers.

He noted that agriculture lending needs to reach a broader base of smallholders and that scalable digital platforms can help improve outreach and sustainability, particularly in initiatives aimed at expanding access to finance.

He also highlighted the importance of diversifying the investor base for domestic public debt and reducing friction costs in distribution by facilitating retail participation through digital platforms, enabling citizens to invest in secure and liquid government securities through accessible channels.

China’s Ant Group invested $3.26 billion in R&D in 2024

Irfan Wahab Khan of Easypaisa shared that the fintech is progressively transitioning from payments to broader financial services, with a focus on financial inclusion, customer education, and the development of savings and wealth management offerings.

The discussion also covered ongoing enhancements in cross-border and wallet-based payment capabilities and reducing transaction frictions for users.

Aurangzeb also shared the government’s perspective on the increasing scale of virtual asset activity and the importance of bringing such activity into a regulated framework.

The meeting included an exchange on opportunities related to tokenisation and the potential for regulated, technology-enabled channels to support secure and accessible financial products, including in areas such as government securities and broader capital market development.

Easypaisa Digital Bank reports Rs5.65bn profit before tax for 9M

Aurangzeb emphasised Pakistan’s intention to leverage its strategic economic relationships to unlock further investment and to build a foundation for long-term, sustainable growth.

Douglas Feagin shared that expanding digital payments and digital finance can support stronger documentation of economic activity and contribute to tax base expansion, based on observed outcomes in multiple international markets.

He reiterated Easypaisa’s and Ant International’s commitment to scaling QR-code merchant acceptance and driving consumer adoption through practical use cases, while highlighting operational considerations linked to biometric-based customer onboarding, compliance requirements, and the cost of authentication and verification processes.

Aurangzeb appreciated the delegation’s commitment and encouraged submission of specific proposals for coordination with relevant stakeholders to advance shared priorities under the government’s digitisation agenda.