Fintech is changing the economy not just in Pakistan but all around the world. If you’ve ever withdrawn money from an ATM, checked your bank statement online, transferring money using an app, or have paid or sent money online to someone through your phone, then you too are part of this multi-billion industry.
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So, What Exactly is Fintech?
Fintech is made up of two words: “Finance” and “Technology”. It is short for Financial Technologies. This fastest-growing tech industry innovatively uses technology to offer efficient and fast financial services. It refers to everything from cashless payments, to crowdfunding platforms, to Robo Advisors, to virtual or cryptocurrencies.
11 Fintech Startups in Pakistan to Watch Out for in 2022
There are around 160 Fintech startups in Pakistan. However, in today’s article we’ll discuss the following top leading startups only:
- Nayapay
- Sadapay
- Finja
- Keenu
- Inov8
- CreditFix
- Easypaisa
- PublishEX Solutions
- Paysys Labs
- Tez Financial Services
- Unikrew Solutions
NayaPay
NayaPay is a leading fintech startup in Pakistan that works in collaboration with some leading banks in Pakistan. It offers E-money wallets service to its customers through which they can manage all their everyday online payments. With their e-money wallet, you can securely send and receive money without any hassle.
Moreover, they also offer Visa debit card to their customers for online, in-store, and international payments. Their Visa debit card is accepted across thousands of ATMs in Pakistan, millions of online merchants and retailers worldwide
SadaPay
SadaPay is another leading fintech startup that offers efficient financial services effortlessly without any additional cost. You can securely send and receive digital payment through their mobile app. Interestingly, this fintech startup works without any physical setup of a traditional bank and saves the money charges to offer free financial services to the customers.
Moreover, it offers a seamless interaction with merchants. By utilizing their services, you can connect with businesses through their Micro applications, get notified about exciting deals and discounts, as well as pay for products and services from the comfort of your home.
Read more: Nayapay joins Visa fintech fast track program
Finja
Finja is a Lahore-based company that was founded in 2015 with the mission to offer secure, fast, and efficient digital transactions for free. Today, this leading fintech startup offers financial services and digital banking projects all across Pakistan and in other emerging markets as well.
Moreover, the company is involved in providing efficient digital services for rolling out payment types and better business process management. Finja Wallet, Finja Retail, CRM Solution, Digital Wallet, and Payroll Plus are a few of their services that they offer to their customers without any additional charges.
Keenu
Keenu is a fintech startup that offers great financial services to manage your everyday money transactions without having cash in your pocket. All you need to have is their digital Payment app and an account. State bank of Pakistan has given approval to this fintech startup to even operate as Electronic Money Institution (EMI). Through utilizing their services, you can connect to different businesses, avail their special discounts and deals, and can shop from the comfort of your home. Alongside that, you can also pay bills, and send money anytime through your phone number to anywhere you want.
Inov8
Inov8 is a fintech startup that was founded in 2004 in Pakistan. This company offers consulting and financial technology solutions. Mainly, they offer services for mobile banking, and a branchless banking ecosystem.
Moreover, they serve financial institutions, money transfer organizations, mobile operators, agent networks, regulators, private businesses, and government companies. One of their popular products is AgentMate which is a mobile banking app. I8 Micro bank is another product of this company that offers services for mobile and branchless banking.
Read more: Ignite and JS bank collaborate to support the young entrepreneurs of Pakistan
CreditFix
CreditFix was part of the Bill & Melinda Gates Foundation which was launched in 2016 in Pakistan. It is a leading fintech startup in Pakistan that offers very unique financial services. This digital lending platform offers loans to Pakistan’s underbanked after performing a complete assessment using the alternative data.
Most importantly, their services are not just limited to enterprises and financial institutions but individuals can also benefit from their services. Currently, it offers banks and financial institutions to save 70% of credit processing charges and customer acquisition on every digital loan service.
Easypaisa 
In collaboration with Tameer Microfinance Bank, Easypaisa was launched in 2009 by Telenor Pakistan. Easypaisa is one of the most popular fintech services in Pakistan that offers mobile-based branchless banking services all across the country. Over-the-counter (OTC) transactions, bill payment, and mobile banking are a few of the services that it offers to Pakistani citizens. In addition, it also enables its customers to pay domestic and international payments securely without any hassle.
Not just that but with Easypaisa, you can also purchase airtime, give donations, pay for insurance, and disburse salaries and social cash transfers effortlessly. Furthermore, it also offers Inter Bank fund transfers, health insurance, handset lending, and secure online payments anytime from anywhere you want.
Related: Pakistani startups raised $240 Million investment in 2021
PublishEX Solutions
PublishEX Solutions is one of the most powerful fintech companies that work with three giant telecom companies in Pakistan, Mobilink, Telenor, and Zong. It provides secure and reliable digital payment solutions to its customers all over Pakistan. All their products are built in house using the latest cutting-edge technologies including machine learning and artificial intelligence
Paysys Labs
Paysys Labs is a fintech startup that develops and provides financial technology platforms products for various businesses, banks, and telecom companies. Companies that are utilizing their services are offering a vast array of different payment types through various different channels. Moreover, their products and services include Instascan, mobile banking solutions, digital financial CRM solutions, and biometric solutions.
Tez Financial Services 
Tez Financial Services is another very prominent fintech startup. Launched in 2016, the mission was to provide financial services to the unbanked. Moreover, their customer segment includes the underbanked and the millennial customers who don’t have access to a bank account. In addition, their financial services are mainly the products they make by using the latest technologies including Artificial Intelligence (AI).
Tez Advance, Tez Sarmaya, and Tez Bima are a few of their main products. Moreover, Tez Advance is a nano credit product that provides a secure and reliable system to get advance cash in times of need.
Moreover, Tez Sarmaya is a digital investment avenue, and Tez Bima is a digital insurance system.
Unikrew Solutions
Unikrew Solutions is another leading fintech company that works with the mission of improving financial inclusion. The company provides customer-centric products by utilizing the latest technologies such as machine learning and data analytics. In addition, they are also working to improve the existing customer experience through the smart use of these cutting-edge technologies.
FastPay and Maestro are two of their most popular digital products. FastPay is a mobile wallet through which one can transfer money easily from a smartphone to another smartphone. Whereas, Maestro is a chatbot that assists the users in making financial decisions. Moreover, it offers some other cool features such as a cognitive authentication suite featuring facial recognition, CNIC verification, signature verification, and biometric check.