Pakistan
activeWallet / e-money
- HQ
- Islamabad
- Fee
- Free transfers pitch — schedule of charges is live
NayaPay
SBP electronic money institution. Official: not a bank account, not a deposit. Pakistan.
Legal entity: NayaPay (Private) Limited
Rate this app
7.2Solid
AlternativesFive questions
At a glance
Is it a bank?
Yes — Electronic Money Institution — NayaPay (Private) Limited. Not a bank (State Bank of Pakistan). Still read the entity on the statement.
If it fails?
Footer: NayaPay (Private) Limited is authorised and regulated by the State Bank of Pakistan as an Electronic Money Institution. The NayaPay account is an EMI wallet, not a bank deposit. DPC (Deposit Protection Corporation) covers member banks, not EMI float. SadaPay is the other EMI file. Keep PKR salary at a scheduled bank if you need DPC.
Salary?
An EMI wallet is not automatically a salary account. Many employers will not pay it. Keep a bank IBAN.
Open from abroad?
CNIC / Pakistani KYC. NICOP paths exist in this market — confirm live for NayaPay.
Monthly fee
Free to join / free to stay on the homepage pitch — schedule of charges is live
Account number
IBAN is part of the pitch — issuing country not stored.
NeoBankDBVerdict
Licence first · score second
7.2
/10 · Solid
NayaPay (Private) Limited is authorised and regulated by the State Bank of Pakistan as an Electronic Money Institution — footer, 2026. That is the review. The homepage sells free onboarding, five ATM withdrawals, a Visa, Raast, and 70+ remittance partners. Fine. The account is still e-money. DPC does not follow EMI float. SadaPay is the peer EMI. HBL and Meezan are banks. If a directory called NayaPay a neobank deposit, it lied. Use it as a spend wallet. Keep salary at a member bank if you need deposit protection.
What it is
Pakistan’s EMI class is the story. JazzCash and Easypaisa are branchless-bank brands of actual banks. NayaPay is not that class. NeoBankDB writes EMI.
Best for: Pakistanis who want an SBP EMI wallet and understand it is not DPC.
Last checked 2026-09-03. Not advice.
What it does well
- +SBP EMI named on the footer
- +Honest class if you read past the marketing
- +Visa + Raast + remittance
- +Schedule of charges published
What to watch
- −Not a bank
- −Not DPC
- −Linked bank is still your bank
- −IBAN-shaped number is still e-money
Legal entity, not the app icon
Who is behind it
- Legal name
- NayaPay (Private) Limited
The product, not the brand colour
The account
- Platforms
- iOS · Android
- Account types
- Personal EMI · Business
- Partner bank
- Linked bank account is a feature, not the licence
- Availability
- Pakistan
- Remote open
- CNIC / Pakistani KYC. NICOP paths exist in this market — confirm live for NayaPay.
- Onboarding
- NayaPay app. Sign-up pitched as fast. Full KYC as SBP EMI rules require.
- KYC documents
- CNIC and selfie-class identity.
- Salary / payroll
- An EMI wallet is not automatically a salary account. Many employers will not pay it. Keep a bank IBAN.
- Local rails
- Raast / IBFT-class via the EMI — not DPC
How money actually moves
- Who holds the cash
- E-money / stored-value — not a bank deposit
- How money moves
- IBAN / SEPA
- Built for
- Personal · Business
- Settlement
- Local rails instant where live; SWIFT slower
- Freeze risk
- Bank-grade; still not freeze-proof
- Card
- visa · physical · virtual · Google Pay
Licence first
Safety
Footer: NayaPay (Private) Limited is authorised and regulated by the State Bank of Pakistan as an Electronic Money Institution. The NayaPay account is an EMI wallet, not a bank deposit. DPC (Deposit Protection Corporation) covers member banks, not EMI float. SadaPay is the other EMI file. Keep PKR salary at a scheduled bank if you need DPC.
Holder / issuer: EMI safeguarded funds — not a bank deposit (SBP EMI class)
- State Bank of PakistanElectronic Money Institution — NayaPay (Private) Limited. Not a bank · Pakistan
Fees
- Monthly
- Free to join / free to stay on the homepage pitch — schedule of charges is live
- FX markup
- International card spend — confirm live schedule
- ATM
- 5 free withdrawals monthly at partner banks on the homepage pitch
Features
- ✓IBAN
- ✓Fee-free core
- –Multi-currency
- –Apple Pay
- ✓Google Pay
- ✓Virtual card
- ✓Physical card
- –Metal card
- –Crypto
- –Stocks
- ✓Business
- –Kids
- –Halal
- SBP EMI
- Visa virtual + physical
- Raast / bill pay / remittance partners
- Linked bank account
- Personal + business
Before you tap Sign up
How to open
Step 1
Name the class
SBP Electronic Money Institution. Not a bank. Not DPC.
Step 2
CNIC in the app
NayaPay app. Identity as asked.
Step 3
Keep a bank account
Link it if you want. The linked bank is the deposit. NayaPay is the wallet.
Official help: www.nayapay.com/
Operator documents
Their own papers
These are the operator’s documents. They outrank this review if they disagree.
Score
- Safety25%
- 6.2
- Fees20%
- 8.4
- Features15%
- 8.0
- App15%
- 8.4
- Global15%
- 5.0
- Support10%
- 7.2
Change log
Full logLicence
NayaPay (Private) Limited is an SBP Electronic Money Institution
Footer 2026. Not a bank. Not DPC. Visa + Raast wallet.
Available in
Straight answers
FAQ
01Is NayaPay a bank?
NayaPay holds a banking-style licence (State Bank of Pakistan). Still read the legal entity on the statement, not the app icon.
02How is money protected?
Footer: NayaPay (Private) Limited is authorised and regulated by the State Bank of Pakistan as an Electronic Money Institution. The NayaPay account is an EMI wallet, not a bank deposit. DPC (Deposit Protection Corporation) covers member banks, not EMI float. SadaPay is the other EMI file. Keep PKR salary at a scheduled bank if you need DPC.
03Where is NayaPay available?
We list 1 market on NeoBankDB. Residency and onboarding rules still sit with NayaPay.
04Card and wallets?
visa · physical · virtual · Google Pay
05Can I open NayaPay remotely?
CNIC / Pakistani KYC. NICOP paths exist in this market — confirm live for NayaPay.
06What is the legal name behind NayaPay?
NayaPay (Private) Limited. Read the entity on the statement, not the app icon.
07Can I receive salary on NayaPay?
An EMI wallet is not automatically a salary account. Many employers will not pay it. Keep a bank IBAN.
08What documents does NayaPay ask for?
CNIC and selfie-class identity.
09Is NayaPay a bank?
No. Official: NayaPay (Private) Limited is an SBP Electronic Money Institution. The account is not a bank deposit.
Ratings and reviews
No published user reviews yet. The NeoBankDB score still comes from licence, fees, and the product — not from an empty star average.
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