Tag: Digital Banking

Banking and fintech leaders will gather in Riyadh on February 10 to discuss structural challenges in MSME lending and explore scalable, data-driven credit solutions.

The Finance Division has drafted amendments to the PS&EFT Act, mandating at least one digital payment mode including QR codes, while the government accelerates digitization across public and provincial departments to strengthen Pakistan’s cashless economy.

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.

Chinese FinTech giant Fintopia China is exploring digital finance opportunities in Pakistan, with full government support to boost technology-driven investment and FinTech growth in the country.

Faysal Bank has launched Pakistan’s first Co-Badge Debit Card in partnership with PayPak and Mastercard, offering secure, seamless, and globally connected payments while promoting financial inclusion and digital transformation.

Mobilink Bank introduces Shariah-compliant digital banking services in Pakistan, expanding Islamic microfinance solutions and strengthening financial inclusion through digital-first innovation.

Allied Bank has entered a strategic partnership with Visa, aiming to enhance Pakistan’s digital payments ecosystem, introduce innovative card solutions, and improve customer experiences across the country.

Pakistan’s Roshan Digital Account (RDA) initiative recorded $205 million in gross inflows in October 2025, signaling sustained investor confidence from overseas Pakistanis and continued growth in digital banking and investment channels.

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.

Total inflows into Roshan Digital Accounts (RDA) reached $205 million in October 2025, boosting cumulative inflows to $11.31 billion. The steady growth signals renewed confidence from overseas Pakistanis in Pakistan’s digital banking and investment ecosystem.