Tag: payment systems

State Bank of Pakistan Reports 92 Percent Digital Retail Transaction Share for Q2 FY26

FinTech webdesk -
The SBP Quarterly Payment Systems Report reveals a massive shift toward a cashless economy with digital transactions reaching 92 percent of the retail total.

SBP Issues Technology Risk Management Framework to Strengthen Pakistan’s Digital Financial Ecosystem

Regulatory webdesk -
The State Bank of Pakistan introduces its Technology Risk Management (TRM) Framework for Payment Institutions, setting comprehensive standards to strengthen cybersecurity, operational resilience, and governance across Pakistan’s digital financial ecosystem.

Senate Panel Calls on Banks to Promote PayPak Cards Over International Payment Giants

BFSI webdesk -
The Senate Finance Committee has called on Pakistani banks to prioritize PayPak, the country’s local payment card, over international networks like Visa and MasterCard. This move aims to strengthen domestic payment systems and curb foreign exchange outflows.