The State Bank of Pakistan (SBP) has developed a comprehensive national implementation strategy to ensure the availability of digital payment acceptance infrastructure, including Raast QR codes, POS, and Soft POS, at all retail and commercial outlets across the country.
In a strong push toward a cashless economy, the Prime Minister’s Office (PMO) has directed all Federal Secretaries, Provincial Chief Secretaries, and Heads of Regulatory Bodies to ensure that retail outlets within their jurisdiction obtain and prominently display Raast QR codes by August 31, 2025.
The directive, issued by Prime Minister’s Advisor Syed Tauqeer Ali Shah, underscores the government’s commitment to driving digital financial inclusion and strengthening the formal economy. Official communications have been made to senior officials, including Kamran Ali Afzal (Secretary, Cabinet Division), Dr Muhammad Fakhre Alam Irfan (Secretary, Power Division), and Chief Secretaries of all provinces and regions, among others.
Key Measures Outlined by PMO
The Prime Minister’s Office has called for immediate action on the following:
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Mandatory Digital Acceptance: All businesses and retail outlets must obtain and display Raast QR codes by the August 31 deadline.
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Licensing Requirements: Digital payment readiness (such as QR code or POS installation) to become a mandatory condition for obtaining or renewing commercial operation licenses.
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Compliance & Enforcement: Establishment of compliance mechanisms including penalties for businesses that refuse to accept digital payments.
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Collaboration with Banks & Fintechs: Ministries to coordinate closely with SBP, banks, Microfinance Banks (MPBs), and Electronic Money Institutions (EMIs) to scale the acceptance network.
To ensure smooth execution, Dr. Shazia Ghani, Team Lead (Special Projects & Initiatives) at the PMO, has been appointed as the focal person for this initiative. Ministries and departments are encouraged to coordinate with her and SBP for timely implementation and operational support.
SBP’s Revised Digital Payment Targets
As part of the strategy, the SBP—based on recommendations from the Sub-Committee on Digital Payments Innovation and Adoption—has set revised performance targets to be achieved by FY 2026:
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Active digital commerce payment points: Increase from 0.5 million to 2 million
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Active merchants: Minimum of 1 transaction per month
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Mobile/Internet banking users: From 95 million to 120 million
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Annual digital transactions: From 7.5 billion to 15 billion
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Remittance digitization: 100% remittances to be credited to bank accounts/wallets (up from 80%), eliminating cash payouts
In parallel, the Ministry of Finance is also working on a cashless payment framework for Government-to-Person (G2P) and Person-to-Government (P2G) transactions, especially for State-Owned Enterprises (SOEs), to enhance transparency and operational efficiency.
This initiative marks a significant milestone in Pakistan’s journey toward digital transformation and economic formalization, with strong inter-governmental coordination and regulatory oversight leading the way.
