Islamabad, Pakistan – Web Desk: Pakistan has taken a major step toward expanding its digital financial ecosystem as the Securities and Exchange Commission of Pakistan (SECP) has issued a non-banking finance company (NBFC) license to CoCo Tech Pakistan, a subsidiary of global e-commerce giant Alibaba Group.
According to an official statement, CoCo Tech Pakistan will introduce “Buy Now, Pay Later” (BNPL) services in the country, enabling consumers to purchase goods from e-commerce platforms through easy installment-based payments.
The development marks a significant milestone in Alibaba’s entry into Pakistan’s growing digital and fintech sector. The SECP confirmed that the company is part of Alibaba’s international network and is expected to contribute to the expansion of consumer financing options in the country.
Officials stated that Alibaba is also planning direct investment in Pakistan, signaling growing confidence in the country’s expanding digital economy and large consumer market.
SECP Chairman Dr. Kabir Ahmed Saddozai said Pakistan’s large consumer base and rapidly growing digital economy continue to attract international investors. He highlighted that the financial services sector offers significant untapped opportunities for innovation and expansion.
He added that the entry of Alibaba Group is expected to increase competition, enhance financial inclusion, and improve access to financing for young entrepreneurs, freelancers, and small businesses.
Analysts believe this development could accelerate the growth of Pakistan’s fintech ecosystem and strengthen digital payment adoption across the country.
