Pakistan Plans Mandatory Digital Payments, Raast QR Integration Under New Law
Pakistan’s Finance Division has drafted amendments to the PS&EFT Act, 2007 to mandate digital payment acceptance, expand Raast QR adoption, and empower local governments as part of the Cashless Pakistan initiative.
NBP Launches Raast P2M QR Payments to Promote Digital Transactions in Pakistan
National Bank of Pakistan introduces Raast Person-to-Merchant (P2M) QR payments, empowering merchants nationwide to accept secure, instant, and transparent digital payments, driving Pakistan’s cashless economy forward.
Shariah-Compliant aik by BankIslami Expands QR Payments Accessibility for Karachi’s Merchant Community
BankIslami’s digital brand aik launches a Shariah-compliant QR payment activation at Creek Walk Food Street in Karachi, supporting Pakistan’s cashless economy agenda and empowering merchants with secure, interest-free digital payments.
Pakistan Accelerates Cashless Transition as Government Pushes for Digital Economic Reforms
The government of Pakistan is accelerating its shift toward a cashless economy through the Cashless Pakistan Initiative, focusing on digital payments, financial inclusion, and infrastructure reforms. Advisor to the Finance Minister Khurram Schehzad highlighted new milestones, including expanded Raast adoption and nationwide internet facilitation, at the 5th Pakistan Future of Retail Business Summit in Karachi.
Pakistan Airports Authority Launches Digital Cashless Payment System Nationwide
The Pakistan Airports Authority (PAA) has introduced a nationwide digital cashless payment system across major airports, enabling travelers to make instant payments via QR codes and the Raast real-time payment platform, aligning with Pakistan’s Digital Economy vision.
Pakistan Railways Partners with 1LINK and Finnect to Enable Nationwide Digital Payments
Pakistan Railways has signed a strategic agreement with 1LINK and Finnect, with support from State Bank of Pakistan, to digitize its collection system across multiple banking channels. The move aligns with the government’s vision of creating a cashless economy.
The Future of Digital Banking in Pakistan: Transformative Shifts
Pakistan’s digital banking ecosystem is evolving rapidly with initiatives like Raast, Roshan Digital Accounts, and the SBP’s regulatory push. These shifts are driving financial inclusion, innovation, and a move toward a cashless economy.