The government is set to roll out the National Digital Wallet, an innovative digital rewards platform conceived by the National Database and Registration Authority (NADRA).
This initiative is part of a broader strategy to encourage a cashless economy in Pakistan.
As part of the initiative, the government is considering linking a 1% reward to electricity, gas, and fuel bill payments made digitally.
Furthermore, for every airtime credit purchase of Rs1,000, a 10% reward, equivalent to Rs100, will be credited to the user’s digital wallet. The scheme also includes incentives for fuel and utility bill payments.
The National Digital Wallet is designed to offer multiple conveniences to citizens. It will enable them to digitally store and access their national ID on smartphones, alongside benefiting from rewards for various payments made through the platform.
The Ministry of Information Technology, which proposed this plan, states that implementation will follow guidelines developed in collaboration with all relevant stakeholders.
The proposal is awaiting formal approval, which will be sought through a summary to be submitted to the Economic Coordination Committee (ECC) and the cabinet.
In an innovative move, the balance in the digital wallet will be accessible via OpenAI for integration with various fintech applications and services.
Maintenance and usage charges for the wallet will be determined by NADRA, with Karandaaz, a non-profit organization focused on digital financial inclusion in Pakistan, providing support.
This initiative is among several undertaken by the caretaker government to promote cashless transactions and financial inclusivity in Pakistan, leveraging the potential of digital identity and biometric technology.
These initiatives will only help in promoting cashless transactions and economy if other options eliminated. People have so many options to park illegal/corrupt (5000 notes, Gold, Dollars, Files/plots etc) money than why will they join digital economy.
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In the love of technology & regulation, we must not ignore free economic choices and privacy of citizen. Why do state need to record so much information of citizen and under what paradigm? Why do state has a control over lives of individuals and what vests in it this authority? I denounce government initiatives into business at operation level.
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Hay days for hackers and scammers. Everyday people are being Robed of their money.
None of the apps developed by any government department in Pakistan is working properly. I am sure the new app will meet the same fate.
People can still be incentivized for digital payments through other apps/ sources. There is no need to reinvent the wheel
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digital app should be mandatory for every Pakistani , paper money should be banned totally
the only solution for Pakistani economic revival
This idea was first announced 4-5 years ago. Its just a hype at this point.