Pakistan’s Digital Payment Surge Faces Cultural and Infrastructure Hurdles Amid Cash Reliance
Pakistan is experiencing rapid growth in digital payments with platforms like Raast, JazzCash, and Easypaisa driving transactions, yet cash remains dominant due to awareness gaps and cultural habits.
Cashless Economy Drive Faces Hurdles as Only 700,000 Retailers Adopt Digital Payments
Pakistan’s cashless economy initiative faces challenges as less than 700,000 retailers currently offer digital payment options, highlighting the gap between government targets and implementation.
BankIslami Enhances ‘aik’ Digital Platform to Expand Shariah-Compliant Banking and Lifestyle Services
BankIslami has enhanced its digital Islamic banking platform ‘aik’ with Raast QR payments, instant account opening, and Islamic lifestyle features, advancing Shariah-compliant banking and financial inclusion across Pakistan.
Bank Alfalah and Euro Oil Launch Raast P2M QR Payments at 150+ Fuel Stations Across Pakistan
Bank Alfalah Limited and Euro Oil Pakistan have launched Raast P2M QR payments at over 150 fuel stations nationwide, advancing the State Bank of Pakistan’s digital payment initiative and supporting the vision of a cashless economy.
Samba Bank Partners with 1LINK to Enable 1GO Raast P2M Merchant Payments Across Pakistan
Samba Bank Limited collaborates with 1LINK to activate 1GO Raast Person-to-Merchant (P2M) payments, expanding digital payment acceptance and strengthening Pakistan’s instant payment ecosystem.
Swich Partners with National Incubation Center Karachi to Empower Startups with Advanced Payment Solutions
Swich has partnered with the National Incubation Center Karachi to support startups in Pakistan by providing smarter, faster, and more reliable digital payment solutions, fostering innovation and growth in the fintech ecosystem.
Pakistan Accelerates Towards a Cashless Future with Rapid Digital Payments Growth
Pakistan’s digital payments ecosystem recorded significant growth in FY 2024-25, with a 38% rise in transactions, widespread adoption of QR payments, and expanded branchless banking services, marking a major step towards a cashless and inclusive economy.
Prime Minister Shehbaz Sharif Accelerates Pakistan’s Digital and Cashless Economy Initiatives
Prime Minister Muhammad Shehbaz Sharif takes decisive steps to advance Pakistan’s digital economy and cashless transactions, with initiatives like ASAAN KHIDMAT and a $10 billion economic target over the next four years.
Pakistan’s Digital Payments Surge to PKR 612 Trillion as Online Transactions Hit 93% Share: SBP Report
Pakistan’s State Bank reports a sharp rise in digital payment adoption, with total retail payments hitting PKR 612 trillion as mobile banking, e-wallets, and Raast lead the shift toward a cash-lite economy.
Pakistan’s Digital Payment Volumes Hit PKR 612 Trillion as Retail Transactions Climb 38% in FY24–25
Pakistan’s payment ecosystem recorded strong digital adoption in FY24–25, with retail transactions rising 38% to 9.1 billion and digital channels capturing 88% of activity, driven by mobile banking, Raast, and EMI wallets.