Tag: cashless economy Pakistan

Zindigi JS Bank teams up with Albario Engineering to introduce Raast QR, POS, and in-app digital payments at EV charging stations, supporting Digital Pakistan and a cashless, clean-energy future.

Bank Alfalah launches Alfa Business, a comprehensive digital payment solution designed to digitise merchant transactions, enhance financial inclusion, and support Pakistan’s shift toward a cashless economy through unified payment tools, business management features, and nationwide Digital Payment Centres.

Pakistan is witnessing rapid growth in digital payments, yet widespread reliance on cash continues to limit nationwide adoption. Despite government initiatives and rising usage among younger consumers, challenges such as low awareness, security concerns, and inconsistent merchant adoption remain major hurdles.

Pakistan accelerates its digital transformation as BISP introduces one million digital wallets for cashless payments, integrating government services with Raast platform to expand financial inclusion.

Pakistan’s digital payments ecosystem continues its rapid growth, with a 38% year-on-year increase in transactions, rising digital adoption across retail payments, and expansion of branchless banking agents and QR-enabled merchants nationwide.

aik by BankIslami launches a Shariah-compliant QR payment campaign at Creek Walk Food Street in Karachi to promote digital adoption, support small merchants, and align with Pakistan’s national cashless economy goals, offering cashback incentives to encourage user participation.

Faysal Bank Limited has partnered with Tapsys to launch Shariah-compliant digital acceptance solutions for SMEs across Pakistan, including POS systems and Raast QR-based payments, supporting the cashless economy vision.

NADRA has introduced multiple digital payment options including JazzCash, Easypaisa, E-Sahulat, and QR code payments for application fees, supporting Pakistan’s cashless economy vision.

Prime Minister Shehbaz Sharif inaugurated Mashreq Digital Bank in Pakistan, calling it a milestone for economic modernization and a landmark in promoting a cashless economy with support from UAE investors.

Paysys Labs and 1LINK have launched 1GO, a Raast P2M digital merchant acceptance service, enabling banks to offer seamless QR-based payments nationwide and accelerating Pakistan’s journey to a cashless economy.

Puma Energy has partnered with HBL Konnect to become Pakistan’s first oil marketing company to implement cashless payments at fuel stations, offering QR code payments, POS transactions, and branchless banking services.

In a first for Pakistan, a Karachi wedding went cashless as guests used Raast QR through Swich to send “digital salami,” marking a milestone in the country’s digital payments revolution.