KPMG in Pakistan has announced its strategic partnership with Karandaaz Pakistan in developing a national roadmap for digital payment escrow services, marking a significant step toward improving payment security, trust, and efficiency in the country’s digital economy.
As part of this initiative, KPMG, Karandaaz Pakistan, and the State Bank of Pakistan (SBP) recently co-hosted a high-level industry consultation in Karachi, bringing together key leaders from banking, fintech, e-commerce, trade associations, and regulatory institutions. The consultation aimed to gather expert insights and build consensus around the design and implementation framework of a digital payment escrow utility in Pakistan.
The proposed digital escrow model is expected to enhance transaction reliability between buyers and sellers by securely holding funds until agreed-upon conditions are met — a mechanism widely used in advanced digital economies. The initiative reflects Pakistan’s growing focus on fostering digital trust and supporting the evolving fintech landscape.
The industry consultation successfully built alignment among stakeholders on the proposed strategic direction. Participants appreciated the collaborative approach taken by Karandaaz and the SBP to engage the private sector and financial regulators in shaping a unified policy framework for digital payments innovation.
A spokesperson from KPMG in Pakistan stated that this partnership underscores the firm’s ongoing commitment to enabling secure, transparent, and technology-driven financial ecosystems. “We’re proud to contribute our expertise in designing frameworks that drive digital transformation and financial inclusion. Such efforts demonstrate how collaboration across institutions can accelerate progress toward Pakistan’s cashless future.”
The consultation marks an important milestone in the journey toward implementing a national digital escrow utility, a move anticipated to strengthen consumer confidence and support growth in e-commerce and online financial transactions.
By combining KPMG’s advisory expertise, Karandaaz’s innovation focus, and SBP’s regulatory leadership, this initiative positions Pakistan to modernize its payment infrastructure and advance its digital financial services ecosystem.
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