Beginning on October 25, 2025, millions of users of digital wallets and bank accounts, including JazzCash and Easypaisa, may suddenly risk losing access to their funds or the ability to make transactions. This is due to the State Bank of Pakistan (SBP) enforcing mandatory biometric verification.
Under the State Bank of Pakistan’s (SBP) revised regulatory framework, established through BPRD Circular No. 1 of 2025, biometric data—such as fingerprints or facial recognition—has become mandatory for all accounts opened at commercial banks, digital banks, microfinance banks, development finance institutions, and electronic money institutions.
Previously, account holders had a grace period of up to 60 days to complete biometric verification before any restrictions would take effect. However, as of October 25, that grace period has ended. Any account that remains unverified may be blocked from sending or receiving funds. This rule applies to all types of accounts, including local currency accounts, foreign currency accounts, and Roshan Digital Account (RDA) services for overseas Pakistanis.
Why the move?
The SBP says the step is designed to bolster Pakistan’s financial system by:
- Strengthening measures against money-laundering (AML) and financing of terrorism (CFT) through more reliable identity verification.
- Streamlining account-opening and customer-onboarding under a unified framework (the “Consolidated Customer Onboarding Framework”) whether done in-branch or remotely.
- Enhancing digital-financial inclusion on a safer basis—so that rapid growth in mobile-wallets and fintech doesn’t compromise regulatory oversight.
What users need to know
If you hold an account or wallet with JazzCash, Easypaisa or similar services, you should act quickly:
- Check whether your account is “biometrically verified”: In the app or by contacting the provider.
- If not yet verified, complete the process—either in-branch, via a kiosk or through your provider’s app (if remote biometric onboarding is available).
- Failure to do so by the deadline may result in one or more of these: inability to send or receive payments, transfer funds, or withdrawal through that account/wallet.
- Don’t assume it only applies to new accounts: Existing accounts are also included and must comply.
Potential implications & concerns
- With the rapid proliferation of mobile wallets in Pakistan, experts warn that tens of millions of accounts could be affected and that service disruption could hit users who rely on these platforms for daily transactions.
- The tight deadline and rolling implementation could create stranded funds (temporarily inaccessible) or drive increased support queries to fintech providers.
- Users in rural or remote areas, or those lacking easy access to biometric kiosks or bank branches, may face heightened difficulty complying in time.
- While the regulatory goal is sound (bolstering financial integrity), the execution risk is high: if many users get locked out simultaneously, trust in digital finance platforms may be undermined.
The SBP’s biometric-verification mandate marks a significant regulatory shift in Pakistan’s fintech and digital banking landscape. For users of JazzCash, Easypaisa and similar digital financial services, immediate action is strongly advised—verify your account now to avoid being cut off from your own money.
