The State Bank of Pakistan (SBP) has launched a major initiative to simplify digital payments for traders and small businesses. This effort aims to accelerate Pakistan’s shift toward a cashless economy and improve financial transparency. The plan was discussed in detail during a high-level meeting on Thursday focused on cashless and digital economy strategies. To […]
digital payments
Digital payments in Pakistan jump 12% as mobile banking grows
Digital payments in Pakistan are growing fast. In the third quarter of fiscal year 2024-25, transactions rose by 12%. The total number reached 2.408 billion. Meanwhile, the overall value of these transactions also increased by 8%, reaching Rs164 trillion. The State Bank of Pakistan (SBP) shared these numbers in its latest report on payment systems. […]
Govt plans extra charges on cash purchases, including petrol, in upcoming budget
The federal government is considering imposing extra charges on all cash purchases, including petrol, in the upcoming 2025–26 budget. This move aims to discourage cash transactions and promote digital payments. According to FBR sources, these proposals will be included in the Finance Bill to curb tax evasion and encourage transparency in the economy. A major […]
Khyber Pakhtunkhwa goes digital: Cashless economy on the rise
The Khyber Pakhtunkhwa government has launched the “Cashless Khyber Pakhtunkhwa Initiative” to promote digital payments and reduce cash dependency. This mandatory system will streamline transactions, enhance financial transparency, and drive economic growth across the province. To ensure smooth execution, the initiative will involve partnerships with mobile wallet providers and a strong enforcement mechanism led by […]