Let’s start with a kicker. For the first three quarters of fiscal year 2021-22 ending March 31, 2022, Rs 502.7 billion worth of payments were processed on point-of-sale (PoS) machines. On all PoS payments, the acquirers, the financial services entities that deploy those machines, charge a merchant discount rate (MDR). Assuming an MDR of 1.5%, … Continue reading Pakistan can’t have a digital payments revolution in retail. Because the government and the banks quell it!