ISLAMABAD  -  The SBP has given license to M/s. E-Processing Systems Private Limited (EPSPL) to commence commercial operations as an Electronic Money Institution (EMI). Under the license, the EMI shall offer e-money wallets to consumers, merchants and agents. With this license, the number of EMIs undertaking commercial operations will increase to five, namely M/s. NayaPay Private Limited, M/s. Finja Private Limited, M/s. SadaPay Private Limited, M/s. Akhtar Fuiou Technologies Private Limited and M/s. E-Processing Systems Private Limited. In addition, two EMIs, namely M/s Wemsol Private Limited and M/s. HubPay Private Limited, are in pilot operations. Meanwhile, three more EMIs—M/s. YAP Pakistan Private Limited, M/s. Cerisma Private Limited, and M/s. Toko Lab Private Limited—have been given in-principle approval and are currently in the process of developing organizational and technological infrastructure to commence pilot operations.