Digital payment technology is reshaping how transactions take place in Pakistan’s bustling cattle markets, offering both buyers and sellers a safer and more convenient way to handle high-value purchases ahead of Eidul Azha. With the rollout of QR code-based digital payment systems by JazzCash and easypaisa, traditional cash-heavy environments are being replaced with mobile-based transactions that reduce the risk of theft and fraud.
The move is part of a broader push toward a cashless economy, aligning with the State Bank of Pakistan’s national initiative titled ‘Go Cashless.’ With increased footfall and large sums of money exchanged during Eidul Azha, this development is timely and essential. Buyers typically carry between Rs30,000 to Rs80,000, often distributing the cash among group members to minimize loss in case of pickpocketing. However, this traditional strategy comes with anxiety and operational challenges. The introduction of digital wallets eliminates much of that concern by enabling secure, instant transactions through QR code scanning.
QR code camps have been established in cattle markets across major cities including Karachi, Lahore, Islamabad, and Multan. These facilities allow users to pay using their mobile phones with limited physical cash. The process is simple and efficient: users open the app, scan the seller’s QR code, input the payment amount, and complete the transaction in seconds. The payment is directly transferred to the seller’s digital wallet, providing both convenience and security.
For sellers, the benefits are equally significant. Handling millions of rupees in cash can be burdensome and unsafe, particularly when traveling back to rural areas after making sales. Digital payments offer a secure and traceable method of managing funds, streamlining the post-sale process. The economic volume associated with Eidul Azha is considerable, with transactions during the season estimated to generate over Rs839.2 billion in 2024. Efficient and secure handling of such large sums is crucial.
Jahanzeb Khan, President and CEO of easypaisa digital bank, emphasized the importance of digital banking in this context. He noted that technology enables buyers to avoid carrying large sums of cash while still engaging in significant purchases. Earlier, on the occasion of Eidul Fitr, easypaisa introduced ‘eidipaisa,’ a feature that allowed users to send digital Eidi to friends and family, reflecting the broader trend of digitizing traditional financial practices.
Khayyam Siddiqi, Head of Communication at JazzCash, shared that QR-based payments have been rolled out in 27 cattle markets across 12 cities. He highlighted the role of these digital solutions in reducing reliance on cash and encouraging safe, efficient transactions. Moreover, he added that this initiative will help bring rural populations, including farmers and cattle merchants, into the formal digital economy, strengthening financial inclusion across the board.
As Pakistan continues its journey toward fintech innovation, digital wallets like JazzCash and easypaisa are not only transforming individual consumer experiences but also driving systemic change across sectors like agriculture and livestock. The cattle markets of Eidul Azha serve as a key example of how digital finance can intersect with tradition to create a safer, smarter economic environment.
