SBP Launches 16-Week Mojaloop Digital Payments Accelerator

SBP Launches 16-Week Mojaloop Accelerator to Strengthen Pakistan's Digital Payments Ecosystem

KARACHI: The State Bank of Pakistan (SBP), in collaboration with the Mojaloop Foundation, has launched the Mojaloop Country Accelerator Program for Pakistan to strengthen the country's fintech ecosystem and build local expertise in digital payment infrastructure.

The 16-week programme will run from November 2026 to February 2027, combining self-paced learning with sessions led by experts.

The initiative is designed for local system implementers, digital financial service providers and payment-hub operators, with the objective of developing specialised skills in digital payment infrastructure.

Participants will also become part of the Mojaloop technical community, providing opportunities for continuous learning and helping institutions adopt international best practices within Pakistan's evolving payments landscape.

The Mojaloop Foundation, a non-profit organisation responsible for maintaining the Mojaloop open-source payment software, is supporting the programme through its design and technical training.

First Initiative Under SBP Innovation Hub

The accelerator marks the first initiative launched under the Collaboration Framework of SBP's Innovation Hub, which was also inaugurated during a ceremony at the central bank's Karachi headquarters.

Established under SBP Vision 2028, the Innovation Hub serves as a platform for structured engagement with the financial technology ecosystem.

Its Collaboration Framework aims to promote capacity building, knowledge sharing and ecosystem development through partnerships that are non-exclusive, technology-neutral and provider-neutral.

The inauguration ceremony brought together SBP leadership, representatives of the Mojaloop Foundation, and senior officials from banks, financial institutions, technology companies, fintech firms and academic institutions.

SBP Highlights Opportunities for Local Talent

Speaking at the event, SBP Deputy Governor Saleem Ullah described the accelerator as a significant opportunity to strengthen Pakistan's financial technology ecosystem.

He said the programme would connect local talent with international expertise, helping Pakistani institutions transform innovative ideas into practical payment solutions.

He also expressed confidence that the partnership would encourage innovation, improve domestic technical capabilities and broaden access to digital financial services.

The initiative reflects SBP's commitment to promoting responsible innovation, developing a stronger digital payments ecosystem and expanding financial inclusion to support inclusive economic growth.