Pakistan Cuts Bank Rewards for Overseas Remittance Inflows Despite Record $38.3 Billion
Pakistan has reduced rewards paid to banks and exchange companies for bringing in record overseas remittances, aiming to curb rising costs while pushing for more direct benefits to senders. The move comes alongside debates on promoting local payment networks like PayPak.
Dubai Islamic Bank and JazzCash Forge Partnership to Boost Digital Remittances and Support Pakistan’s Freelance Economy
Dubai Islamic Bank Pakistan and JazzCash have announced a strategic partnership to streamline international remittances and expand tailored digital financial solutions, especially for Pakistan’s growing freelance workforce.
Pakistan Sees Mobile Banking Users Surge Past 22 Million as Digital Adoption Accelerates
A new report by the State Bank of Pakistan reveals that mobile banking users have jumped by 33% to reach 22.39 million, highlighting the country’s rapid shift toward digital financial services and growing trust in mobile platforms.
Senate Committee Pushes for Wider Adoption of PayPak Cards Over Global Payment Giants
Pakistan’s Senate Standing Committee on Finance has called on banks to promote local PayPak cards over international options like Visa and MasterCard to strengthen the country’s digital payments ecosystem and reduce foreign dependency.
SBP Plans Easier Digital Payment Options for Traders to Expand Cashless Transactions
The State Bank of Pakistan is working on easing digital payment systems for traders to drive cashless transactions, aiming to increase mobile users, QR merchants, and total digital payments under its broader digital economy strategy.
Neem and Jubilee Life Join Forces to Digitize Insurance Payments and Enhance Customer Experience in Pakistan
Neem has partnered with Jubilee Life Insurance to digitize premium payments and empower agents through smart fintech solutions, reshaping how customers pay for insurance in Pakistan.
ACE Money Transfer CEO Engages Pakistan’s Leadership to Boost Legal Remittances and Drive Financial Digitization
ACE Money Transfer CEO Rashid Ashraf holds high-level talks with Pakistan’s senior ministers to advance legal remittance flows, financial digitization, and structured incentives aimed at strengthening the nation’s economic framework.
PM Initiates Major Push Towards Cashless Economy with Three High-Level Committees
Prime Minister Shehbaz Sharif launches three expert committees to fast-track Pakistan’s cashless economy, expanding RAAST and forming a national digital master plan for seamless digital transactions.
Raqami and Visa Join Forces for Pakistan’s Digital Banking Revolution
Raqami Islamic Digital Bank partners with global payments leader Visa to roll out a comprehensive card portfolio, paving the way for inclusive, Shariah-compliant digital financial services in Pakistan and addressing the nation’s significant unbanked population.