Islamabad: In a bid to promote cashless transactions and enhance transparency in the economy, the State Bank of Pakistan (SBP) is formulating a comprehensive strategy to simplify digital payment methods for traders, according to a statement released by the Prime Minister’s Office (PMO) on Thursday. The development was shared during a weekly meeting on cashless […]
82% of consumers trust digital payments despite potential scams; 69% expect to use them more in the next 12 months 93% respondents worry their family, or friends might fall for a scam Karachi, Pakistan, June 30, 2025: A new study commissioned by Visa reveals a rise in consumer awareness and proactive security measures for digital payments across […]
ISLAMABAD: Pakistan Railways (PR) and Allied Bank Limited (ABL), Thursday, signed a memorandum of understanding (MoU) aimed at introducing modern Point of Sale (POS) systems across the railway network. The MoU signing ceremony was presided over by Federal Minister for Railways Hanif Abbasi. Under the agreement, advanced POS systems will be installed at 348 railway […]
Federal Minister for Finance, Senator Muhammad Aurangzeb, chaired a high-level meeting today at the Finance Division focused on advancing Pakistan’s transition toward a digital and less cash-dependent economy. The session brought together key stakeholders from the financial sector, including commercial banks, development finance institutions (DFIs), regulators, and investment experts. The participants, forming the core of […]
The State Bank of Pakistan (SBP) has initiated a nationwide “Go Cashless” campaign to promote digital payments and reduce reliance on cash transactions within cattle markets during the upcoming Eid-ul-Adha. This strategic initiative, in line with SBP’s goal of fostering digital financial inclusion throughout Pakistan, was officially launched today, May 20, 2025, and will run […]
Vopy, a portfolio company of Swedish investment firm Front Ventures, has secured a verbal order from a major digital bank in Pakistan to provide a freelance payment service. “The order comes from one of the major digital banks that Vopy’s management team visited in Pakistan, where the client wishes to launch the services as soon […]
KARACHI, Pakistan – In a significant move to bolster Pakistan’s digital payments landscape, the State Bank of Pakistan (SBP) has announced plans to establish a dedicated entity to oversee and drive the expansion of Raast, the country’s national instant payment system. The new entity will operate as a wholly owned subsidiary of the SBP and […]
ISLAMABAD, April 29 – In a major step towards modernizing welfare disbursements, Prime Minister Shehbaz Sharif announced the expansion of digital wallets across Pakistan, aiming to bring provincial systems into a unified national digital payment framework. The announcement was made during a ceremony held to honor individuals who played key roles in the successful execution […]
LAHORE: The Federation of Pakistan Chambers of Commerce & Industry Businessmen Panel (BMP) has said that unreliable internet and digital payment barriers have slowed down the growth of the small and medium-sized enterprises (SMEs), as they have been facing serious challenges in their attempt to tap growing global market. The FPCCI former president and BMP […]
Islamabad – The digital payment ecosystem in Pakistan continues to strengthen, with 88 percent of all retail transactions processed through digital channels in the second quarter of the fiscal year 2025 (Q2-FY25), according to the State Bank of Pakistan (SBP). Mobile banking applications, branchless banking (BB) wallets, and e-money wallets played a pivotal role in […]