Pakistan’s FinTech has been experiencing rapid advancement, a report published by “ProPakistani” has observed.
The report attributed this growth to increasing inclusion amid increasing efforts by digital service providers.
“The global fintech market was valued at about $127.66 billion in 2018 and is expected to grow to $309.98 billion by the end of 2022 at an annual growth rate of 24.8%.
The numbers are even more encouraging for Pakistan. The fintech ecosystem is rapidly evolving in the country and is paving way for individuals and businesses to adapt to digital financial services which are convenient, secure, and can be accessed from a single touchpoint. ”
This, according to the report is further strengthened by the country’s National Financial Inclusion Strategy.
“Fintechs and digital payments players across the industry are striving to work hard with a passion to empower Pakistanis and lower the ratio of financial exclusivity across the country.
Be it helping the underserved withdraw cash, supporting the poor sustain their livelihoods, assisting the financially challenged start or retain a small business, or simply helping those in need to get free from the vicious trap of loan sharks, platforms like Easypaisa continue to set precedents of how mobile technology can be used to transform societies and empower people to take independent financial decisions,” the report said.