Tag: Cashless Economy

Pakistan’s finance ministry teams up with Visa to digitize government payments, enhance financial inclusion, and support cashless transactions as part of ongoing economic reforms.

Pakistan’s instant digital payment platform RAAST has processed over Rs. 80 trillion in transactions, connecting 48 million users and 53 financial institutions, enhancing financial inclusion and promoting a cashless economy.

The Government of Pakistan, in collaboration with Easypaisa Digital Bank and Ant International, emphasized accelerating the transition to a cashless economy, expanding digital payments, and enhancing financial inclusion for individuals and small businesses.

In support of Pakistan’s Cashless Economy initiative, JazzCash strengthens its position as the leading digital payments provider by enabling RAAST QR transactions at over 400 fuel stations nationwide, expanding its merchant network to 650,000 and driving interoperability across Pakistan’s digital payment ecosystem.

Pakistan’s push toward a cashless economy under Prime Minister Shehbaz Sharif is struggling to gain momentum, with fewer than 700,000 retailers adopting digital payment systems. Despite strong government efforts, resistance from traders and growing cash circulation remain major barriers to digital transformation.

Despite Prime Minister Shehbaz Sharif’s push for a cashless economy, fewer than 700,000 retailers in Pakistan have adopted digital payment systems. The government aims to link 2 million merchants by mid-2026, but resistance from traders and high cash circulation remain key challenges.

Islamabad’s Kabul Restaurant goes cashless with Zindigi’s Raast P2M QR solution, showcasing a successful public-private partnership and advancing Pakistan’s Digital Pakistan initiative.

Bank Alfalah and Shell Pakistan have launched Raast P2M QR payments at 42 Shell COCO fuel stations, enabling customers to scan and pay through any Raast-enabled banking app, promoting secure cashless transactions and supporting Pakistan’s digital payments transformation.

Pakistan-based fintech startup Haball earns a spot on CB Insights’ prestigious 2025 list of the 100 Most Promising Fintech Startups, marking a major milestone in the company’s mission to revolutionize digital financial infrastructure across emerging markets.

Karachi’s iconic Bohra Bazaar has transitioned to a cashless ecosystem powered by JazzCash, with hundreds of merchants now using QR-based payments for safer and faster transactions. The initiative promotes financial inclusion, empowers small businesses, and marks a key milestone in Pakistan’s digital transformation journey.

Barq Pakistan has received In-Principle Approval (IPA) from the State Bank of Pakistan to establish an Electronic Money Institution (EMI) Wallet, marking a major step toward expanding digital payments and financial inclusion in Pakistan.

Askari Bank Limited and 1LINK have signed an agreement to enable 1GO Raast P2M payment acceptance, empowering merchants across Pakistan to receive secure, real-time digital payments via QR codes — advancing the country’s cashless economy vision.