In a major push towards digital transformation and financial inclusion, the Khyber Pakhtunkhwa (KP) cabinet has formally approved the “Digital Payment & FinTech Strategy”, paving the way for the province’s ambitious vision of a “Cashless KP by 2030.” This initiative marks a significant milestone in Pakistan’s ongoing efforts to modernize its financial infrastructure and broaden digital inclusion across all segments of society.
The newly approved strategy focuses on accelerating the adoption of digital payment systems, ensuring greater transparency, and providing ease of access for citizens to government and financial services. With a firm emphasis on innovation and regulatory modernization, the strategy aligns with global trends in financial technology (FinTech) and digital governance.
At the heart of this digital revolution is #Paymir, the province’s flagship digital payments platform. The initiative aims to offer a seamless and user-friendly interface for citizens, enabling a range of financial transactions and government service payments in a secure and efficient manner. Paymir is expected to be the cornerstone of KP’s digital payment ecosystem, offering a unified platform to drive cashless transactions across various sectors.
The implementation of this strategy is being spearheaded by the Khyber Pakhtunkhwa Information Technology Board (KPITB), the lead digital transformation agency for the province. KPITB is working in close collaboration with stakeholders in the public and private sectors to create an integrated FinTech environment that supports innovation, encourages investment, and ensures regulatory compliance.
With a strong focus on financial transparency, the strategy aims to curb leakages, improve efficiency in government-to-person (G2P) and person-to-government (P2G) transactions, and create a robust digital financial ecosystem. This transition to digital payments is also seen as a critical step in enhancing the ease of doing business, supporting digital entrepreneurship, and boosting economic activity in underserved and rural areas.
The “Cashless KP by 2030” vision seeks not only to reduce dependence on physical currency but also to empower citizens with greater control over their financial lives. Through digital literacy programs, infrastructure development, and smart policy frameworks, the provincial government aims to ensure inclusive progress and bridge the digital divide.
This move comes at a time when Pakistan is experiencing rapid growth in mobile banking, e-wallet usage, and FinTech startups. The KP government’s proactive stance reinforces its commitment to becoming a leader in digital governance and financial innovation within the country.
The approval of the Digital Payment & FinTech Strategy is a clear signal that KP is not only embracing change but is also strategically positioning itself for a future where digital financial services are the norm rather than the exception. By establishing a secure, inclusive, and scalable digital finance infrastructure, KP is setting a precedent for other provinces and regions to follow.
As the strategy unfolds in phases, stakeholders across the board—banks, FinTech companies, digital service providers, and citizens—are expected to play an active role in transforming KP into a truly cashless economy by the end of this decade.
