SBP unveils PRISM+ system to upgrade National Digital Payments Infrastructure
PRISM+ aims to improve transparency, interoperability, and liquidity management in the payments ecosystem, launching on June 16
Govt to introduce dual pricing for cash and digital transactions on fuel: report
Consumers making cash transactions at petrol stations will incur an additional cost of Rs2-3 per liter
Finance minister pushes for cashless economy with new digital payment measures
Government plans incentives and restrictions to reduce cash use and expand digital transactions
SBP boosts transaction limits to promote digital payments in cattle markets before Eidul Adha
Collaboration with 22 banks aims to increase cashless transactions and reduce reliance on cash during the peak livestock trading season at 54 key cattle markets in 21 districtsÂ
Safepay granted full commercial license by SBP to operate as Payment Service Provider
Central bank approval enables Safepay to expand digital payment services across Pakistan, supporting financial inclusion and sector growth
Cashless Khyber Pakhtunkhwa Initiative launched to promote digital payments
Aims to implement mandatory digital payment system for businesses, strengthening economic growth, enhancing transparency, and reducing reliance on cash
X unveils digital wallet with Visa integration
The launch aligns with Musk’s broader plan to transform X into a financial ecosystem, expanding beyond social media
Google Pay to launch in Pakistan by March 2025
Service to enable Pakistani users to link their bank-issued debit and credit cards to Google Pay for seamless contactless payments
PayPal fixes outage that affected thousands worldwide
Company experienced a system issue that affected multiple products including account withdrawals
Pakistan’s digital payments surge 35% in FY24, reports SBP
Total volume of digital transactions rise from Rs4.7 billion to Rs 6.4 billion while their value grows to Rs 547 trillion from Rs 403 trillion
Govt shifts to Raast for employees’ salaries, vendor bills paymentsÂ
Over 90% of federal employees now paid through the State Bank's instant payment system as digital transactions surge
Visa aims for 10-fold rise in Pakistani use of digital payments
Strategy involves transforming phones into payment instruments and accepting various forms of payment, including QR and card tap
Digital transactions account for 83% of total retail payments in Pakistan: SBP
Banks and EMIs processed 844 million retail payments amounting to PKR 128,470 billion during the quarter
Govt halts National Digital Wallet project
IT Ministry deems cashless economy initiative infeasible
The problem is access to credit, not payments claims Abhi CEO at World Economic Forum
Representing Pakistan’s fintech community at World Economic Forum, Omair Ansari claims it is a fallacy that Pakistan has a big unbanked population because of the impact of the telcos.