Alibaba Makes “Dramatic Entry” into Pakistan’s Fintech Sector with BNPL Launch

4 days ago

Islamabad (News Desk) — Global Chinese e-commerce giant Alibaba Group has officially entered Pakistan’s financial technology (fintech) sector after receiving regulatory approval to launch its operations in the country.
According to an official notification from the Securities and Exchange Commission of Pakistan (SECP), Alibaba’s local subsidiary “Kokotik” has been granted a license to operate in Pakistan. With this approval, the company is set to introduce a Buy Now, Pay Later (BNPL) service in the Pakistani market.
The new service will allow users to make online purchases instantly while paying for them later in easy installments. The model is expected to benefit consumers who have limited access to traditional banking services.
Officials and industry observers believe that if the BNPL service is integrated with Alibaba’s existing e-commerce platform, Daraz, it could significantly boost online shopping activity and improve consumer purchasing power across the country.
Under the proposed plan, Alibaba is also expected to invest directly in Pakistan, which could create new employment opportunities in the technology and digital finance sectors while strengthening investor confidence in the local market.
SECP officials emphasized that “Kokotik” will operate under Pakistan’s financial regulations to ensure consumer protection and prevent excessive debt burden on users.
The development, announced on April 14, is being seen as a major milestone that positions Pakistan as an emerging player on the global fintech map. With more than 60% of its population consisting of youth, Pakistan is witnessing rapid growth in digital adoption and cashless payment systems.
Alibaba’s entry into the BNPL segment comes at a time when Pakistan is increasingly shifting toward a digital economy. The company already holds a strong presence in the country through Daraz, and this expansion into financial services reflects its long-term strategy to unify shopping and payments under a single ecosystem.