Fintech revolution: Pakistani startups push beyond borders to capture global clients

KARACHI: Pakistan’s fintech companies, through innovative services, products, and solutions, are exploring opportunities to enter emerging markets and attract foreign clients.

Over the past eight to ten years, around a dozen fintech companies have launched operations in the domestic market with a view to providing financial services to the country’s large unbanked population. Most of them introduced wallet accounts for consumers and merchants, which eventually intensified competition among market players.

Dr Ayesha Anwar, an expert on the global fintech landscape, said fintech operators offering innovative and diverse services will not only dominate the domestic market in the future, but will also expand their offerings to foreign countries through partnerships and joint ventures. She believes that fintech innovation can drive inclusive economic development when supported by strong institutional frameworks.

These fintech companies are expected to strengthen the country’s financial landscape by promoting financial inclusion and digital transformation, while also contributing to foreign exchange earnings as they expand into offshore markets, Dr Ayesha Anwar further said.

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She mentioned that fintech operators could make a significant contribution similar to the IT sector for stabilizing macroeconomic indicators, particularly bridging the gap of the deficit of service trade.

According to the State Bank of Pakistan (SBP), the country earned $32 million during the period of July to October 2025 as compared to $22 million in a similar period last year on account of financial services.

Notable fintech operators include ABHI, offering earned wage access or advance salary services; Hakeem Easy Finance, providing invoice factoring solutions for SMEs and B2B clients; and Haball, which specializes in supply chain financing.

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Recently, several established operators and startups have participated in global fintech trade fairs, earning recognition in terms of business, awards, and opportunities to share their success stories with global audiences at events such as Money 20/20 and the Singapore Fintech Festival.

Asif Hasan, founder of a fintech startup called Blinq, said that representing Pakistan during the Singapore Fintech Festival was an exceptional opportunity to showcase their services on an international stage and highlight the rapid progress taking place within Pakistan’s fintech ecosystem.

He said their experience at the festival was inspiring and transformative, as Pakistani fintech companies and startups engaged with global payment networks, banks, investors, and technology partners. These interactions provided deep insights into the future of real-time payments, embedded finance, AI-driven financial systems, and digital identity — developments that will enable fintechs to innovate further.

The event not only expanded their network but also strengthened their mission to accelerate digital payments and empower businesses through smarter financial infrastructure. It also helped them build meaningful connections, explore collaboration opportunities, and present their vision for simplifying and modernizing Pakistan’s payments landscape, said Hasan.

There are nearly 30 active fintech companies and startups operating in Pakistan, regulated separately by the State Bank of Pakistan and the Securities and Exchange Commission of Pakistan.