Alibaba enters Pakistan’s fintech space: SECP grants BNPL licence to KTPL

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP), has granted a license to KOKO TECH PAKISTAN (PRIVATE) LIMITED (KTPL) to operate a Buy Now Pay Later (BNPL) business in Pakistan. KTPL is ultimately owned by Alibaba.com Holdings. The entry of Alibaba-backed KTPL marks a significant milestone for Pakistan’s digital financial ecosystem.

One of world’s leading e-commerce and technology companies, Alibaba’s move into Pakistan reflects growing international confidence in the country’s large consumer base, expanding digital economy, and untapped financial services market.

With its advanced AI-driven credit assessment systems and globally tested digital infrastructure, KTPL is expected to introduce innovative, data-driven lending solutions in the BNPL space. This will enhance access to consumer financing, particularly for young users, freelancers, and small businesses that remain underserved by traditional banking channels.

The development also represents a direct inflow of foreign investment into Pakistan’s financial sector. Backed by Alibaba’s global expertise and capital strength, KTPL is well-positioned to support SMEs, boost e-commerce activity, and accelerate the shift towards a more inclusive, technology-led financial system. The SECP Chairman, Dr Kabir Ahmed Sidhu, said that the entry of Alibaba Group will boost competition and innovation.

Dr Sidhu noted that Pakistan is an attractive destination for international investment, supported by its large population, growing digital adoption, and an improving regulatory framework.

Copyright Business Recorder, 2026