Pakistan Single Window (PSW) is planning a new Unified Payment System (UPS) that will allow importers and exporters to pay customs duties, taxes and other trade-related charges through a pre-funded digital wallet. The proposed facility is intended to simplify payments within Pakistan’s cross-border trade ecosystem by allowing businesses to maintain a reusable balance for different transactions. Under the planned arrangement, the wallet will be operated by a licensed bank or fintech company under a structure permitted by the State Bank of Pakistan (SBP). Rather than establishing an independent financial infrastructure, the selected provider will use its existing payment infrastructure to manage customer funds and process transactions. The initiative is designed to provide traders with an additional digital payment option across services connected to the PSW ecosystem. However, the proposed system is still at the planning and procurement stage and has not been announced as an operational service.
Under the proposed arrangement, importers and exporters will be able to add funds to their wallets through multiple channels, including inter-bank fund transfers (IBFT), Raast, banking applications, online banking portals and over-the-counter deposits. The balance will be reusable, allowing businesses to maintain funds in advance and use them for different trade-related payments rather than arranging separate deposits for each transaction. Traders will also be able to withdraw available funds remotely. Payments will be processed against payment advice generated within the PSW ecosystem, which includes the main Pakistan Single Window platform, Maritime Single Window, Port Community System, Air Community System and Customs Clearance System. The wallet is expected to bring several payment activities under a connected arrangement, giving businesses a way to manage transactions through a single balance. This could also make it easier for traders to review payment records and monitor settlement and reconciliation across different services.
A licensed bank or fintech provider will be responsible for holding and managing the funds deposited by customers. Its responsibilities will include fund custody, balance management, top-ups, withdrawals, refunds, reversals and payment settlement. The provider will also carry out customer due diligence and anti-money laundering checks in accordance with applicable requirements. PSW, meanwhile, will not directly hold, intermediate or settle customer funds. Its role will be to connect the payment provider with the Unified Payment System, allowing transactions to be processed within the trade facilitation ecosystem. The structure is also intended to allow additional payment providers to be integrated in the future without requiring major changes to the wider system. This separation of responsibilities places the financial management of customer balances with regulated service providers while PSW facilitates the connection between trade-related payment requests and the relevant financial infrastructure.
The proposed wallet will operate alongside existing payment arrangements rather than replacing them. Trade payments currently made through Pre-Deposit (PD) accounts and bank or payment-gateway-based mechanisms will continue to be available, and existing PD accounts will not be migrated into the new system. Businesses will therefore have an additional channel for managing customs duties, taxes and other charges. The main expected benefit is the ability to maintain funds in advance, make multiple payments from one balance and access transaction information through a more connected process. Better payment visibility and reconciliation could also help businesses manage their trade-related financial activities. However, the proposal does not establish that the wallet is already available to importers and exporters. Details such as the final service provider, applicable fees, transaction limits and launch schedule have not been confirmed in the announcement. The system’s eventual availability will depend on the selection of a provider and the completion of the required implementation and integration work.
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