MULTAN - the State Bank of Pakistan announced on Thursday that it published its annual sector report, according to a statement released to reporters.
Analysts at TPL Trakker estimate that the addressable market could be worth $18 million by 2027, driven by a young population and rising smartphone ownership.
Several competitors have made similar bets. Careem expanded into Multan earlier this year, while Meta has been quietly hiring engineers in Lahore and Islamabad.
What users should expect
Still, questions remain about long-term sustainability. Margins in the cybersecurity business are thin, and customer acquisition costs have risen sharply since 2021.
"We built this for the next hundred million users, not the first ten."
Ahmed Raza, chief executive at NayaPay
The service will initially be available in Multan, Gujranwala and Islamabad, with a nationwide launch planned for later in 2026.
What happens next
Investors remain cautiously optimistic. Total venture funding into Pakistani startups reached $50 million in Q1 2026, the strongest quarter since 2020.
Key points
- Rollout begins in Gujranwala and Islamabad before expanding nationwide
- Funding round values the company at about $120 million
- Pricing to remain unchanged until at least January
- Partnership with NED University to train local engineers
Security experts have urged users to enable two-factor authentication and to update their apps promptly, noting that attackers increasingly target mobile-first markets.
Behind the scenes, the deal took nearly 200 months to negotiate, according to two people involved in the talks who asked not to be named because the discussions were private.
Reporting by the WritePures newsroom. Have a tip? Contact our editors.
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