The Ministry of Finance on Sunday rejected what it described as misleading media reports regarding Pakistan’s sovereign financing transactions, including the Eurobond and the country’s inaugural Panda Bond issuances. In a statement, the ministry said recent reports were based on incomplete information and lacked critical context, categorically rejecting allegations surrounding the transactions. It said both […]
transactions
Cattle markets shift toward online transactions
From cash-filled hands to digital taps, cattle markets are undergoing a quiet transformation this Eidul Azha as mobile wallets, banking apps, and QR codes take over everyday transactions for livestock and services, ensuring faster, safer trade while integrating rural communities into formal finance during the peak season of sacrificial animal buying and selling. Many customers […]
Mobile app transactions drive 10% growth in retail payments
Pakistan’s digital payment ecosystem is booming, with mobile app-based transactions hitting 2 billion in Q1 FY26 and accounting for over 80% of all digital payments, as revealed by the State Bank’s First Quarterly Payment Systems Review of FY26 report released on Tuesday. According to the report, retail payment volumes rose to 2.8 billion transactions, marking […]
Visa, Mastercard Propose $38 Billion Settlement To Cut Swipe Fees
Visa and Mastercard have announced a revised $38 billion settlement with U.S. merchants who accused the credit card giants of inflating fees for processing transactions, in an effort to gain approval from a federal judge who previously rejected a smaller deal. The proposed agreement seeks to end two decades of antitrust litigation, where merchants alleged […]
Robust growth of digital transactions continues in Q3 FY21: SBP
The State Bank of Pakistan, Monday, released its Quarterly Payment System Review (QPSR) for the third quarter of fiscal year 2020-21, which showed that the value of mobile banking, internet banking and e-commerce transactions, all, more than doubled. The QSPR for January-March 2021 depicts strong growth in the space of digital financial transactions in the […]