Tag: Pakistan cashless economy

Pakistan orders an independent audit of its national cashless economy initiative to ensure transparency, improve execution, and accelerate digital payments adoption, supported by national DPI and telecom infrastructure reforms.

The federal government has approved a Rs. 3.5 billion subsidy to promote Raast QR payments in Pakistan, supporting merchant onboarding and digital transactions under the Prime Minister’s Cashless Economy program.

HABIBMETRO and Kuickpay have announced a strategic partnership under the Cashless Economy Initiative to accelerate digital transformation across Pakistan’s retail sector by enabling in-store and online payment acceptance solutions.

The Oil and Gas Regulatory Authority (Ogra) has ordered all oil and gas sector entities in Pakistan to adopt digital payments by October 31, 2025. The move mandates the use of Raast QR codes at petrol pumps, gas utilities, and fuel outlets nationwide, supporting the State Bank’s digitization drive and the government’s vision of a cashless economy.

The Securities and Exchange Commission of Pakistan (SECP) has directed all regulated entities, including NBFCs, insurance companies, modarabas, and securities brokers, to adopt digital payments through Raast QR codes by October 31, 2025. The initiative is aimed at driving financial inclusion, boosting transparency, and accelerating Pakistan’s transition to a cashless economy.

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.

The Federal Board of Revenue has imposed a Rs. 200,000 cap on cash payments for e-commerce Cash on Delivery orders, aiming to promote digital transactions, boost transparency, and curb tax evasion in Pakistan’s online retail market.