The Securities and Exchange Commission of Pakistan (SECP) has published an updated Whitelist of Digital Lending Applications, reinforcing its regulatory oversight of the fast-growing digital lending space and cautioning consumers against the risks associated with short-term, high-cost borrowing. The updated list was made available on the SECP’s official website on Monday as part of ongoing efforts to promote transparency, consumer protection, and responsible financial behaviour.
According to details shared by the regulator, most digital nano loans offered through mobile applications are short-term in nature and typically carry high interest rates along with additional fees and charges. The SECP emphasised that borrowers must be fully aware of the potential risks of over-indebtedness, particularly when taking repeated or overlapping loans through digital platforms. The regulator urged consumers to borrow responsibly and only opt for financing that they can comfortably repay within the agreed timeframe.
In its advisory, the SECP stressed the importance of carefully reviewing loan terms and conditions before availing any digital credit product. It advised users to understand repayment schedules, applicable charges, penalties for late payment, and data usage policies. Reiterating its consumer-centric approach, the commission stated that protecting the financial well-being of users remains a key regulatory priority as digital lending expands across Pakistan.
The updated whitelist of SECP-approved digital nano lending applications includes 14 platforms operated by licensed non-banking finance companies (NBFCs). The regulator has disclosed key details for each approved entity, including the company name, application name, and associated digital presence such as URLs and logos. The approved nano and buy-now-pay-later platforms include JingleCred Digital Financial Services Limited operating Paisayaar, 4Sight Finance Services (Private) Limited operating Aitemaad, Walee Financial Services (Private) Limited operating Hakeem, Pakisnova Microfinance Company (Private) Limited operating Fauri Cash, Goldlion Financial Private Limited operating SmartQarza, and JazzCash Private Limited offering its digital lending tool through Android and iOS platforms.
Other approved nano loan providers on the list include Zanda Financials (Private) Limited operating Money Tap, VisionCred Financial Services (Private) Limited operating Pakcredit, Finleap Financial Services (Private) Limited operating Daira, Easy Finance (Private) Limited operating Loan Lado, Bluesky Financial Services (Private) Limited operating Cash Bazar, Awami Financials (Private) Limited operating Sahara, Quark Financials Pakistan (Private) Limited operating Paisa Ghur, and Fintech Gharana Financial (Private) Limited operating Qarz Mitra.
In addition to nano lending applications, the SECP has also issued a separate whitelist of approved NBFC-operated digital lending platforms offering other financing products such as earned wage access, buy-now-pay-later, business-to-business financing, and education finance. This second category comprises 11 approved applications, reflecting the increasing diversification of digital credit products in the country.
The approved list of other digital lending apps includes Abhi Private Limited, which offers earned wage access through its Abhi – Your Salary Now platform; Tez Financial Services Limited operating Zood Pay and Zood Mall under the buy-now-pay-later model; Cashew Financial Services Limited providing B2B financing through Muawin; Qist Bazaar Private Limited offering buy-now-pay-later services; and Credit Book Financial Services Limited operating Tijara for B2B financing.
The whitelist further includes Edufi Financial Services (Private) Limited offering study-now-pay-later solutions through Edufi, Taleem Finance Company Limited providing education finance via Taleem Connect, Neem Exponential Financial Services (Private) Limited offering earned wage access through Neem Paymenow, Viva Finance (Private) Limited operating Nova Finance, MG Financial Services Limited offering buy-now-pay-later services through Baadmay, and Alif Finance (Private) Limited operating Alif Shop.
By publishing updated whitelists, the SECP aims to help consumers distinguish between licensed digital lenders and unregulated or illegal applications that may engage in abusive recovery practices, excessive pricing, or misuse of personal data. The regulator has repeatedly warned the public against borrowing from unapproved platforms, noting that only SECP-licensed NBFCs are authorised to offer digital lending services in Pakistan.
As digital credit continues to grow in response to rising demand for quick and convenient financing, the SECP’s updated whitelist serves as a key regulatory tool to enhance trust, accountability, and consumer awareness. The commission has encouraged users to verify any lending app against the official whitelist before borrowing and to report suspicious or unauthorised platforms to the regulator.
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