Easypaisa, Pakistan’s leading digital payment platform, is set to revolutionize the sale and purchase of sacrificial animals this Eid-ul-Azha with its innovative in-app Raast-based QR code payment system. This initiative aligns with the State Bank of Pakistan’s (SBP) QR code payment system under the Raast instant payment service, aimed at facilitating secure and convenient transactions for the public and traders during the Eid-ul-Azha festivities.
Eid-ul-Azha, a significant event in Pakistan, generates substantial economic activity each year, with around PKR 376 billion worth of animals sacrificed last year alone. Recognizing the scale and volume of transactions during this period, Easypaisa’s new feature will enable customers to conduct their transactions seamlessly and securely through its in-app QR code mechanism, supporting SBP’s mission to advance Pakistan’s digital financial sector.
With this feature, all Easypaisa users, along with users of other digital banking apps and wallets, can effortlessly send and receive money at selected cattle markets across Pakistan. To send money, users simply need to tap the scan code option on the Easypaisa app’s home screen, scan the receiver’s QR code, and enter the transaction amount. For receiving payments, users can tap the scan code option, choose to receive money, and generate either a static or dynamic QR code.
Shahmeer Nadeem, Head of Product Management at TMB/Easypaisa, expressed enthusiasm about the development, stating, “We remain committed to SBP’s mission of making Pakistan a financially inclusive society through our unique and customer-centric product offerings. The instant QR payment mechanism is the need of the hour. It helps digitize the otherwise cash-intensive cattle market transactions, ensuring that our users can enjoy a hassle-free transaction experience during the Eid-ul-Azha festivities.”
The State Bank of Pakistan has been proactive in digitizing the country’s financial landscape. Aligned with this vision, Easypaisa has consistently positioned itself as a frontrunner, driving transformation in Pakistan’s financial services sector. With over 40 million registered mobile accounts and growing, Easypaisa continues to lead the charge towards a financially inclusive society through collaboration and cutting-edge technology.
As the Eid-ul-Azha season approaches, Easypaisa’s latest innovation promises to bring unprecedented ease and convenience to the sale and purchase of sacrificial animals, marking a significant step forward in the digitalization of Pakistan’s economy.
