In a major boost to expanding Pakistani e-commerce market, China’s Alibaba Group has officially entered the country’s financial services sector through its local partner Coco Tech.
According to details, the Securities and Exchange Commission of Pakistan (SECP) announced on Tuesday that it has granted Coco Tech a non-banking finance company (NBFC) license.
The new platform will introduce “buy now, pay later” (BNPL) services, allowing consumers to purchase products from e-commerce platforms and pay in easy instalments. This model has gained global popularity as an alternative to traditional credit systems.
According to the SECP, Alibaba will also make direct investment in Pakistan, reflecting confidence in the country’s expanding digital market. SECP Chairman Akif Saeed said that Pakistan offers strong opportunities for global investors, particularly in financial services.
He added that the initiative will improve access to credit for young people, freelancers, and small businesses, while boosting competition and innovation.
Pakistan’s e-commerce sector continues to grow rapidly, driven by rising smartphone usage and a youthful population.
