Pakistan has recorded significant growth in digital payments during the first year of its Cashless Pakistan initiative, with the number of active digital payment merchants surpassing 2 million and annual digital transactions increasing from 6.9 billion to 11.3 billion.
The progress was reviewed during a high-level meeting chaired by Minister of State for Finance and Railways Bilal Azhar Kayani, according to a statement issued by the Finance Ministry.
The number of digital banking users has exceeded 135 million, while merchant adoption expanded rapidly through the government’s Raast QR Code initiative. Launched in June 2025 under Prime Minister Shehbaz Sharif, the programme aims to improve public convenience, enhance transparency, and promote a documented economy through digital payments.
Officials also said financial inclusion has reached 69 per cent, with continued efforts to reduce the gender gap. The government is working to fully digitise 25 major federal and provincial institutions through Raast by December 2026, while around 75 per cent of government entities now accept digital payments.
Kayani reaffirmed the government’s commitment to expanding digital payments in collaboration with regulators, financial institutions, fintech firms, and the private sector. He added that an independent third party has been hired to assess progress and ensure transparency, eliminate data duplication, and improve reporting standards.
Also read: Pakistan moves toward smart motorways with cashless toll collection
