KARACHI – Pakistan’s first instant digital payment system, Raast, developed by the State Bank of Pakistan (SBP), has crossed a major milestone, processing over 892 million transactions with a total value exceeding Rs 20 trillion since its launch.
The announcement came during the launch of the ‘Go Cashless’ campaign, inaugurated by Deputy Governor SBP Saleem Ullah at a local mall in Clifton, Karachi. The campaign, organized in collaboration with 12 leading financial institutions, is part of the Pakistan Financial Literacy Week (PFLW) 2025. It aims to educate vendors and consumers about the convenience, security, and benefits of digital payments—encouraging a shift towards a cashless economy.
Speaking at the event, Saleem Ullah emphasized that the campaign is not a one-off initiative but part of a broader strategic vision to accelerate Pakistan’s transition to a digital economy. He shared that in Q2 of 2025 alone, the Raast platform handled 795.7 million transactions amounting to Rs 6.4 trillion.
Highlighting the growing adoption of digital financial services, he noted a 62% growth in transactions via mobile and internet banking. In FY24, the volume of digital transactions grew by 35%, rising from Rs 4.7 billion to Rs 6.4 billion, with the total value hitting Rs 547 trillion.
The ‘Go Cashless’ initiative reflects the SBP’s commitment to promoting financial inclusion, innovation, and integration in Pakistan’s payment landscape. From small vendors in local markets to large retail chains, the campaign seeks to demonstrate that digital payments are not only a viable alternative but should be the preferred mode of transaction.
“The future of payments in Pakistan is digital,” said Saleem Ullah. “With campaigns like Go Cashless, we’re showing people that going digital is easy, secure, and empowering.”
The campaign is expected to continue in various cities as part of SBP’s ongoing efforts to create a cash-lite, inclusive economy.
