Pakistan Official Sets Wise Fintech Launch as 2026 Priority to Slash Remittance Costs

Credit: Wise

A senior Pakistani government official has designated the full operational launch of the British fintech company Wise in Pakistan as a primary objective for 2026 to lower fees on inbound remittances.

Amir Anzur, chief marketing officer at the Pakistan Software Export Board, outlined the plan in a public LinkedIn post, citing ongoing collaboration with the State Bank of Pakistan to address regulatory barriers and enable integration with the country's Raast instant payment system.

Wise, founded in London in 2011 by Taavet Hinrikus and Kristo Käärmann, currently handles more than $1 billion in annual transfers to Pakistan (mostly used by freelancers in the country), accounting for about 3% of the nation's total remittance inflows, even without official full operations in the market.

The effort follows facilitation by Shaza Fatima Khawaja, minister of information technology and telecommunication, who connected Wise representatives with the office of the State Bank of Pakistan governor to advance discussions.

Four specific regulatory updates remain required to clear the path for Wise's complete rollout, according to Anzur's statement. "Get Wise fully operational in Pakistan," Anzur wrote in his post listing professional goals.

• Wise is now working with the State Bank of Pakistan to integrate with Raast, which could make remittances faster, cheaper, and more transparent.

The initiative targets fee reductions, with traditional banks imposing charges of 3% to 7% on remittances while Wise applies rates around 0.6%.

UPDATE: Local media outlets are now reporting that Pakistan is now pushing Wise to formally launch in the country and start its operations officially as soon as possible.