• Visa’s global advocacy program, brought to Pakistan in partnership with HBL, empowers women entrepreneurs with grants worth USD50,000 (USD 10,000 each), tailored training, and access to networking and mentoring opportunities
• Applications are open in Pakistan until December 24, 2025.
• Visa & HBL highlights findings from the Women SMB Digitization Index surveying Pakistan business owners

Karachi, Pakistan, November 10, 2025:

Visa, a global leader in digital payments, and HBL, Pakistan’s premier private sector bank, announce the return of She’s Next, a global advocacy program that spotlights women entrepreneurs who are actively financing, managing, and expanding their businesses.

Recognizing their pivotal role as catalysts for economic and social development, women-led businesses are increasingly shaping Pakistan's economy with a distinct blend of resilience, social consciousness, and technological adoption.

In 2024, the program received over 2,500 applications, culminating in the selection of five women entrepreneurs, including Ziana Sakhia (Bechlo), Sadaf Rehman (CodeSchool), Rida Zainab (Porter Pakistan), Ayesha Awan (SocialBlu), and Hira Javaid (Foster Learning), who secured funding collectively worth USD 50,000, training, and networking opportunities.

To cater to the impressive demand, 'She's Next' will once again invite women entrepreneurs from all industries and sectors in Pakistan to apply on the official website for a chance to receive grants worth a total of USD 50,000 (USD 10,000 each). Winners will also receive a range of benefits, including a tailored training program, mentoring opportunities, and access to She’s Next Club resources, including a workshop library and a community of entrepreneurs. Applications are open from today until December 24, 2025.

“She’s Next, unlocking the boundless potential of every Pakistani woman, providing the essential stepping stone for women-led businesses to scale and expand collectively. Our inaugural program attracted over 2,500 applications, reflecting the deep entrepreneurial spirit and hunger for growth among women across the country. That excitement translated to real impact as the winners’ businesses are thriving and driving digital transformation in sectors like fashion, health,

education, and technology. We’re excited to bring She’s Next back to Pakistan and uplevel the new cohort of winners,” said Umar S. Khan, Country Manager for Pakistan and Afghanistan, Visa.

“We also ran a new edition of the Visa & HBL Women SMB Digitization Index this year, which highlighted the positive economic impact of women entrepreneurs. Despite their own personal hurdles and personal growth ambitions, women business owners are motivated by financial independence, and a deep desire to create supportive work environments which uplift societies – an ethos that is very close to Visa’s own mission of uplifting everyone, everywhere. What’s been great to see is that women entrepreneurs are integrating payment technologies and artificial intelligence to overcome obstacles and drive their businesses forward, which really shows their progressive mindset.”

Aamir Kureshi, Head Products Transactional Services & Solution Delivery – HBL, said: “We are proud to renew our support for the She’s Next global advocacy program again this year. At HBL, we celebrate the strength and spirit of women entrepreneurs and are committed to increasing their participation in the Pakistan economy. The Visa & HBL Women SMB Digitization Index revealed that women entrepreneurs actively seek guidance and support from mentors and financial advisors and are keen to receive training from major financial institutions. Keeping this in mind, this year, we aim to increase our efforts at providing them with relevant programs that build skillsets for growth and success and connect them with a carefully curated list of mentors.”

About She’s Next, Empowered by Visa

Since 2020, Visa has globally invested $3.8 million in over 250 grants and coaching for women SME owners as part of the company's broader commitment to support businesses internationally.

To learn more and apply for the Visa She's Next Grant Program, applicants must submit a short application form with details about their business and digital presence by December 24, 2025. Apply today at: https://pk.visamiddleeast.com/run-your-business/she-is-next-campaign.html

About Visa Inc.

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions, and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable, and secure payment network, enabling individuals, businesses, and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere, and see access as foundational to the future of money movement. Learn more at Visa.com.

About HBL:

HBL was the first Pakistani commercial bank to be established in Pakistan in 1947. Over the years, HBL has maintained its position as the premier private sector bank in Pakistan with 1,600+ branches, 2,260+ ATMs, 54,400+ Konnect by HBL agents (branchless banking platform), 42,000+

QR locations serving over 40 million+ clients worldwide. With a presence across major trade zones in the world, the Bank is recognized as the leading financial institution of the country for its client-centric innovation in financial services.

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Visa & HBL ran the Women SMB Digitization Index in 2025, which surveyed Pakistani women business owners who hold a notable share of senior leadership roles to have a better understanding of the motivations and challenges of this important group. The Index scores businesses based on five indicators: online presence, digital payments acceptance, payment security awareness, customer engagement, and customer retention.

Key findings from the Visa & HBL Women SMB Digitalization Index:

Business challenges, motivations, and support

• Women entrepreneurs face gender bias (79%), with common perceptions questioning their confidence in negotiations (30%), ability to scale businesses (29%), and leadership skills (26%).
• Despite their ambition, 53% of women entrepreneurs identify achieving rapid business growth and raising capital/accessing funding as significant hurdles.
• Women heavily rely on business mentors or coaches (40%) for advice.
• Top three drivers for women entrepreneurs in Pakistan while setting up their venture include financial independence (39%), leadership aspirations (24%), and personal growth (22%).
• 90% women entrepreneurs are interested in joining a training program provided by a major financial institution to improve their understanding of payment-related topics.

Business funding and financial support

• Women entrepreneurs primarily fund their businesses through personal savings (62%) and family support (51%).
• When additional funding becomes available, women prioritize initiatives directly linked to growth and scaling, with 31% allocating funds to creating new products or services and entering new segments or markets, and 28% investing in advertising and marketing.
• Women prioritize their human capital when allocating additional funding, with 28% investing in increasing employee salaries and 17% in staff expansion.
• or financial advisory support, women-led SMBs rely on family and friends (26%), financial advisors (25%), and mentors or coaches (14%).

Sales and payment channels and security

• Women-led businesses demonstrate a strategic balance for wider market penetration, with 59% utilizing both offline and online sales channels, and online sales contributing a significant 51% of their revenue.
• A notable 10% of women entrepreneurs operate exclusively on a cashless basis, significantly higher than their male counterparts, showcasing a strong commitment to digital finance.
• Women entrepreneurs are highly aware of cyber threats, with nearly three in 10 women proactively addressing risks like phishing, ransomware, and malware.
• Women-led businesses prioritize securing digital payment transactions through employee training (57%), data protection (52%), and advanced security measures (54%) like tokenization and encryption.

Data analytics, AI integration, and future initiatives

• Women are at the forefront of AI adoption, using Natural Language Processing (NLP) tools like ChatGPT (49%), utilizing data analytics and pattern recognition (43%), and employing chatbots or virtual assistants (43%).
• The use of AI has transformed various business processes, with notable improvements in customer service (81%), data analysis and decision-making (77%), product development (72%), and sales and marketing (69%).
• In the critical area of payments, AI is a game-changer, with 53% reporting increased accuracy in transactions, 52% benefiting from enhanced fraud detection, and 50% seeing automated payment tasks.
• Looking ahead, 62% of women plan to invest in training business leadership/employees in digital initiatives, and 14% intend to invest in AI and advanced analytics or automation of business processes.