In a landmark move for Pakistan’s digital financial landscape, Mobilink Bank and JazzCash have officially inaugurated the Chaklala Scheme-III Cashless Bazaar in Rawalpindi. This strategic collaboration marks a significant milestone in the country’s journey toward a digital-first economy, directly supporting the Prime Minister’s vision and the State Bank of Pakistan’s regulatory push for a cashless society. By integrating digital payment infrastructure into one of the city’s busiest commercial hubs, the initiative covers over 900 shops and mobile carts, effectively bridging the gap between traditional retail and modern financial technology.
The launch event was attended by high-ranking officials and industry leaders, including Brigadier Syed Ali Anjum, Station Commander Rawalpindi, who served as the Chief Guest. Other prominent figures included Rizwan Khaleel Shamsi from the State Bank of Pakistan and Atta ur Rehman, Chief Business Officer at Mobilink Bank. Their presence underscored the national importance of localizing digital payments. The initiative is not merely about replacing paper currency but about building a sustainable ecosystem where small-scale merchants and everyday consumers can interact within a secure, formal financial framework.
At the heart of this transformation is the widespread deployment of Raast-enabled QR codes. Raast, Pakistan’s instant payment system, allows for real-time fund transfers, meaning merchants no longer have to wait days for settlements or worry about the security risks associated with holding large amounts of physical cash. For the average shopper in Rawalpindi, this translates to a frictionless checkout experience via mobile wallets. Beyond simple transactions, Mobilink Bank is deepening its impact by offering Business Plus accounts to participating retailers. These accounts unlock access to essential financial tools that were previously out of reach for many small business owners, including health and fire insurance, SME-specific loans, and innovative green financing options for solar energy and electric vehicles.
Haaris M. Chaudhary, President and CEO of Mobilink Bank, highlighted the bank’s digital-first philosophy, noting that the foundation of a cashless economy is built within the local bazaars where the majority of daily commerce occurs. He pointed out that bringing small merchants into an inclusive system is the most effective way to scale financial inclusion across the country. By providing the necessary on-ground support, the bank ensures that the transition from cash to digital is not just a theoretical goal but a practical reality for thousands of people.
Echoing this sentiment, Murtaza Ali, CEO of JazzCash, emphasized that the digitization of high-frequency commerce is the ultimate catalyst for national economic shifts. With JazzCash already supporting a massive network of over one million Raast-enabled QR merchants nationwide, the Chaklala Scheme-III project serves as a focused proof-of-concept. This move helps merchants enter a connected financial system that offers long-term reliability and growth potential. As these localized interventions continue to prove successful, they provide a scalable blueprint for other cities across Pakistan to follow, ultimately accelerating the shift toward a transparent and modernized economy.
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