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Thursday July 17, 2025

SBP issues guidelines for mobile payment apps

By Our Correspondent
April 27, 2022

KARACHI: State Bank of Pakistan (SBP) on Tuesday issued guidelines for mobile payment applications to ensure confidentiality and integrity of customer data and availability of the app services in a secure manner.

App owners would use the guidelines for the architecture, design, development, and deployment of mobile payment apps and associated environment that consumers use for digital financial services, the SBP said in a circular.

“App owners shall ensure that their mobile apps and associated infrastructure are compliant with the requirements of these guidelines latest by December 31, 2022,” it added.

The central bank said app owners would develop a policy governing mobile apps business objectives, standards, compliance, guidelines, controls, responsibilities, and liabilities.

App owners might formulate the policy separately or include the same as part of their overall digital channels development policy, it stated.

As a principle, the policy shall achieve a balance among security of apps, convenience, and performance, SBP said, adding, the policy should at least be revised annually and/or when a significant change made in the environment.

Mobile apps have become an alternate payment channel for a growing number of users. The SBP regulated entities have been offering innovative products and services through mobile apps.

Consequently, opportunities for the fraudsters to exploit vulnerabilities in mobile apps and defraud the customers have also increased manifold.