Tag: Mobile Banking Pakistan

Jazz begins nationwide rollout of free SIMs and JazzCash digital wallets for two million BISP beneficiaries, supporting the Prime Minister’s vision of a cashless Pakistan and enabling vulnerable women to participate safely and independently in the digital economy.

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’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.

State Bank of Pakistan reports that 93 percent of online purchases in FY25 were made via digital wallets and accounts, highlighting major acceleration in fintech adoption and mobile-based payments, with strong growth across e-commerce, POS, and QR-code transactions.

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.

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.

Telemart partners with JingleCred to offer smartphone financing on CNIC-based installments, driving financial inclusion and boosting digital adoption in Pakistan.

Easypaisa digital bank secured top honors at the Dragons of Pakistan 2025, winning two Gold and one Bronze award for its innovative campaigns, further strengthening its role as a leader in digital banking and financial inclusion in Pakistan.

Pakistan’s mobile banking users have soared to 22.39 million, marking a 33% jump as the country’s digital banking landscape continues to expand rapidly. New SBP data highlights how smartphones are becoming the primary tool for managing money nationwide.

The Karandaz Financial Inclusion Survey 2024 reveals a sharp increase in digital and traditional financial access in Pakistan, with improvements across provinces, gender, and education levels, yet persistent gaps remain in literacy and regional equity.

Faysal Bank has launched Raast QR payments across major Mandis in Pakistan ahead of Eid-ul-Adha 2025, offering a secure, cashless, and instant payment solution. This move supports Pakistan’s fintech growth and aligns with the State Bank's push for digital financial inclusion.