RightCard Payment Service Limited, trading as LemFi, a leading international payments platform, today announced that the State Bank of Pakistan (SBP) has approved its operation of remittance services into Pakistan in partnership with multiple strategic partners including United Bank Limited (UBL).
This approval allows LemFi to continue providing secure, affordable and reliable money transfer services for millions of Pakistanis living in the United Kingdom, Canada, the United States and Europe who send funds to their families back home.
Pakistan received an estimated US$33 billion in personal remittances in 2024, making it one of the world’s most important remittance markets. “We are honoured to receive approval from the State Bank of Pakistan to serve the Pakistani diaspora,” said Muhammad Daiyaan Alam, LemFi’s head of South Asia Expansion and Growth. “Pakistan is a key remittance corridor for us. We are committed to making money transfers more reliable and affordable for Pakistani families worldwide.”
The SBP’s approval supports its broader strategy to promote financial inclusion and facilitate legitimate cross-border transactions. The review process assessed LemFi’s technical capacity, financial strength, risk management and commitment to consumer protection.
Key benefits of the partnership include:
1. Regulatory compliance: Full alignment with the State Bank of Pakistan’s guidelines and global anti-money laundering standards
2. Trust and reliability: Customers can rely on consistent and high-quality service delivered through an extensive network
3. Competitive value: Competitive exchange rates, low fees and access to innovative financial services
Philip Daniel, LemFi’s head of global expansion and growth, added, “Partnering with UBL combines our innovative platform with their trusted banking network. Together we aim to build a more inclusive and accessible financial future for Pakistanis everywhere.”
As LemFi expands across global markets, it will continue to invest in advanced technology, strategic partnerships and acquisitions to deliver secure and innovative financial services while maintaining strict regulatory compliance.
For more information visit www.lemfi.com or contact legal@lemfi.com
About LemFi
Founded in 2021, LemFi is building the future of financial services for immigrants worldwide. Initially focused on remittances, it now serves over two million people across Europe and North America who send money to more than 30 emerging markets including Pakistan, China, India, Kenya and Nigeria. LemFi employs more than 300 people across Africa, Europe and North America and has raised US$85 million from investors such as Highland Europe, Left Lane Capital, Palm Drive Capital and Y Combinator.
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