ISLAMABAD: ZANDA Financial Services has advised Pakistani consumers to verify the local SECP licensing of the MoneyTap loan application after reports of inaccurate product information circulating online.
The company, which operates MoneyTap Pakistan, issued an official clarification stating that its service is separate from a similarly named Indian platform and operates independently under Pakistani regulations.
According to ZANDA Financial Services, MoneyTap Pakistan is operated under Securities and Exchange Commission of Pakistan license SECP/LRD/123/ZFSPL/2023-39 and has no operational or ownership connection with the Indian product “MoneyTap,” operated by MWYN Tech Private Limited, also known as Freo.
Company releases verified product details
The clarification comes after some Pakistani consumers reportedly encountered foreign loan details, repayment terms and markup rates online that did not apply to the Pakistani service.
The company said the move was aimed at helping consumers compare financial products using accurate local information and supporting independent publishers with verified references.
According to the released specifications, MoneyTap Pakistan offers loans ranging from Rs1,000 to Rs50,000 with repayment options in one, two or three installments.
The platform applies a daily markup rate of 0.3 percent and disburses funds through JazzCash, Easypaisa and Pakistani bank accounts.
ZANDA Financial Services said customer support is available around the clock in both English and Urdu.
Focus on consumer awareness
A company spokesperson said Pakistani consumers should have access to accurate and verified information when researching regulated financial services.
The spokesperson said the clarification was intended to provide a single authoritative reference point for the Pakistani MoneyTap service and its SECP licensing status.
Verification references:
• SECP whitelist of approved digital lending applications: https://www.secp.gov.pk/document/digital-lending-apps-being-run-and-administered-by-duly-licensed-lending-nbfcs/
• Company website: https://www.money-tap.com
• Google Play listing: https://play.google.com/store/apps/details?id=com.dhan.quick.udhaar.tap.game.jaldi.paisa.borrow
About ZANDA Financial Services
ZANDA Financial Services (Private) Limited is a Pakistani Non-Banking Finance Company licensed by the Securities and Exchange Commission of Pakistan. It operates the MoneyTap digital lending application exclusively in Pakistan. The company has no corporate, ownership, or operational affiliation with MoneyTap (India), MWYN Tech, or Freo, which are separate entities operating under Indian regulatory jurisdiction.
