RightCard Payment Service Limited, trading as LemFi, has received formal approval from the State Bank of Pakistan (SBP) to operate remittance services into Pakistan. The approval was granted in partnership with multiple strategic institutions, including United Bank Limited (UBL), one of the country’s largest and most established commercial banks. This milestone is set to strengthen remittance inflows by offering millions of overseas Pakistanis a secure, fast, and affordable way to transfer money home.
LemFi, a fast-growing international payments platform, already serves Pakistani communities across major global markets, including the United Kingdom, Canada, the United States, and Europe. The partnership ensures that expatriates can now rely on regulated, technology-driven remittance solutions that comply with SBP’s requirements while also benefiting from UBL’s expansive reach and trusted banking network.
The announcement comes at a time when remittances continue to play a pivotal role in Pakistan’s economy. According to official figures, the country recorded over US$33 billion in personal remittance inflows in 2024, making it one of the most critical remittance corridors worldwide. With this partnership, LemFi aims to make sending money to Pakistan more cost-effective, reliable, and accessible, addressing the long-standing needs of the diaspora.
“We are honoured to receive these approvals from the State Bank of Pakistan to serve the Pakistani diaspora,” said Muhammad Daiyaan Alam, LemFi’s Head of South Asia Expansion & Growth. “Pakistan represents one of the most significant remittance corridors to us, and globally, we welcome every opportunity to demonstrate our commitment to making sending money home more reliable, affordable, and cost-effective for Pakistani families worldwide.”
The State Bank’s decision also reflects its broader mandate to encourage financial inclusion, support legal remittance channels, and reduce dependency on informal systems. The approval was granted following a rigorous review process that assessed LemFi’s technical capabilities, financial health, risk management practices, and consumer protection policies.
Key benefits of the LemFi-UBL partnership include:
Regulatory compliance: Ensuring all transactions follow SBP guidelines and international anti-money laundering standards.
Trust and reliability: Leveraging UBL’s extensive banking network to build confidence among users.
Competitive services: Offering lower transaction fees, attractive exchange rates, and innovative digital features tailored to customer needs.
Commenting on the collaboration, LemFi’s Head of Global Expansion and Growth, Philip Daniel, said, “Partnering with UBL allows us to combine our innovative platform with their trusted banking network and legacy, ultimately delivering on our shared vision of a more inclusive and accessible financial future for all Pakistanis.”
The partnership also underlines the growing role of technology-driven fintech solutions in shaping Pakistan’s financial ecosystem. By combining digital innovation with traditional banking expertise, LemFi and UBL are set to contribute to the State Bank’s long-term goals of deepening financial inclusion, enhancing consumer trust, and maximizing remittance inflows through regulated channels.
As LemFi continues to expand across global markets, it remains committed to leveraging cutting-edge technology, strategic partnerships, and targeted acquisitions to deliver safe, seamless, and innovative financial solutions. The company has pledged to maintain its compliance with local and international regulations while continuing to work with key stakeholders to support the financial needs of Pakistani communities worldwide.
The approval by SBP is not just a regulatory milestone but also a signal of confidence in Pakistan’s evolving financial technology sector. It demonstrates how cross-border collaborations can address critical economic priorities while ensuring safe and affordable services for millions of families dependent on remittances.
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