Tag: digital wallets Pakistan

Pakistan Senate committee approves Virtual Assets Bill 2025, paving the way for the Pakistan Virtual Asset Regulatory Authority to license and supervise cryptocurrency exchanges and digital wallet providers.

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.

Payoneer and Stripe have partnered to expand Online Checkout for Asia Pacific markets, including Pakistan, enabling webstores to accept Apple Pay, Google Pay, BNPL services, and more, streamlining cross-border trade for local businesses.

The State Bank of Pakistan has launched PRISM+, its upgraded payment and settlement system based on ISO 20022 standards. The system enhances transparency, interoperability, and liquidity management, aligning Pakistan’s financial infrastructure with global best practices and advancing the country’s digital transformation.

Pakistan has set ambitious targets under the Prime Minister’s Cashless Economy initiative, including expanding digital merchants, boosting mobile banking users, and routing all remittances through digital channels. The State Bank of Pakistan is set to play a central role in accelerating digital wallet adoption and advancing a cashless economy.

Bykea has launched digital payment options including Easypaisa, JazzCash, and online bank transfers across its ride-hailing platform, enabling safer, cashless travel and promoting financial inclusion in Pakistan.

PayFast rolls out Google Pay support across 5,000+ Pakistani merchants, offering faster, more secure online payments and enhancing digital checkout experiences nationwide.