Tag: mobile wallets Pakistan

Starting October 25, 2025, the State Bank of Pakistan will block all digital bank accounts and mobile wallets without biometric verification, as part of its new framework to enhance financial security, transparency, and compliance across the country’s banking ecosystem.

Swich has become the first homegrown payment facilitator to power digital payments at Khaadi Corporation, enabling multiple payment options and advancing Pakistan’s fintech-driven retail transformation.

The State Bank of Pakistan has officially designated 1LINK as a Payment System Operator, a move that strengthens Pakistan’s digital payments infrastructure. The recognition reinforces SBP’s push for a cashless economy, financial inclusion, and innovation in the fintech ecosystem.

Prime Minister Shehbaz Sharif has hailed the launch of digital wallets under the Benazir Income Support Programme as a landmark initiative. The move aims to accelerate Pakistan’s transition to a cashless economy, improve transparency, reduce corruption, and empower citizens through digital financial access.

The State Bank of Pakistan has mandated biometric verification for cash deposits via mobile wallets starting July 2025, aiming to boost security and curb fraud without impacting online transactions.

The State Bank of Pakistan has mandated biometric verification for cash deposits via mobile wallets starting July 2025, aiming to boost security and curb fraud without impacting online transactions.