The Securities and Exchange Commission of Pakistan (SECP) has issued a major directive requiring all licensed entities under its regulatory framework to adopt and visibly display digital payment solutions, with specific emphasis on Raast QR Codes, at their business outlets. The move is part of Pakistan’s broader national vision to strengthen the digital payment ecosystem and accelerate the transition toward a cashless economy.
According to the circular, the requirement applies to a wide range of SECP-regulated entities, including Non-Banking Finance Companies (NBFCs), insurance companies, Modarabas, securities brokers, and other licensed market intermediaries. These institutions are expected to not only install but also prominently display their Raast QR Codes, ensuring that customers are provided with the option to make digital transactions. Importantly, no licensed entity will be allowed to decline customer payments made through digital channels.
The SECP has set October 31, 2025, as the deadline for full compliance. Entities that fail to meet this timeline could face regulatory scrutiny, as the Commission seeks to enforce a consistent framework for digital financial adoption across the sectors it supervises.
This initiative is closely aligned with the State Bank of Pakistan’s nationwide drive to digitize payment systems and promote financial inclusion. By mandating the adoption of Raast QR Codes, the SECP aims to provide customers with seamless, secure, and convenient digital payment options while enhancing transparency and efficiency in financial transactions.
Industry experts suggest that the widespread integration of Raast QR Codes could prove transformative for Pakistan’s economy, reducing reliance on cash-based transactions and creating a stronger foundation for financial innovation. The directive is also expected to help bridge gaps in financial access by encouraging both traditional and non-traditional financial entities to embrace digital solutions.
The SECP has also urged all regulated stakeholders to work proactively with their partner banks, microfinance banks, and Electronic Money Institutions (EMIs) to obtain free-of-cost Raast QR Codes and ensure their timely deployment at outlets. This collaborative approach is intended to minimize implementation hurdles and ensure that businesses are adequately prepared to meet the compliance deadline.
As Pakistan’s regulatory bodies continue to push for a digitized financial ecosystem, the SECP’s latest directive signals a strong commitment to modernizing payment systems. The mandatory adoption of Raast QR Codes is expected to accelerate digital transformation, drive consumer confidence in cashless transactions, and strengthen the country’s digital finance framework.
With October 2025 set as the implementation deadline, businesses and financial institutions now face the challenge of ensuring readiness, while customers can anticipate broader accessibility to fast, reliable, and transparent digital payment solutions across sectors.