- Mobile banking users increase from 95 million to 137 million.
- Govt directs all overseas remittances through digital channels.
- All BISP payments now reach beneficiaries via digital wallets.
Prime Minister Shehbaz Sharif on Tuesday directed that all overseas remittances be processed through digital channels to accelerate Pakistan’s transition towards a cashless economy and enhance financial transparency.
Chairing a meeting on the promotion of a cashless economy and digital payments, the prime minister praised the economic team for increasing the number of active merchants using QR code-based digital payments by 300% within a year.
PM Shehbaz praises the economic team for increasing the number of active merchants using QR code-based digital payments by 300% within a year
He also described the rise in mobile banking application users from 95 million to 137 million as a major achievement.
The prime minister directed the authorities to further strengthen awareness campaigns to encourage greater adoption of QR code-based digital payments among merchants.
He also called on banks and financial institutions to play a more proactive role in accelerating the country’s transition to a cashless economy.
The prime minister appreciated the initiative to shift Benazir Income Support Programme (BISP) payments to a digital system, describing it as more transparent, faster, and more convenient for beneficiaries.
During the briefing, the meeting was informed that between June 2025 and June 2026, the number of merchants receiving digital payments increased by 300% to 2.003 million.
It was also noted that 99% of National Database and Registration Authority (Nadra) payments have been digitised, while the share of cash payments has declined sharply from 71% to just 1%.
Similarly, it was informed that all payments to 10 million BISP beneficiaries are now being made through digital wallets.
The current number of mobile banking app users stands at 137 million.
Between July 2025 and June 2026, a total of 11.9 billion digital transactions were recorded.
During the past year, 92% of remittances from overseas Pakistanis were received through digital channels.
An independent third-party validation of the cashless economy initiative is currently underway, and the final report, along with recommendations, will be presented in November 2026, the prime minister was informed.
The Pakistan Banks’ Association has assigned targets to its member banks to promote digital payments, including the Raast instant payment system.
The meeting was attended by Federal Ministers Ahad Khan Cheema, Muhammad Aurangzeb, Attaullah Tarar, Shaza Fatima Khawaja, Ali Pervaiz Malik, Minister of State for Finance Bilal Azhar Kayani, State Bank of Pakistan (SBP) Governor Jameel Ahmad, the Nadra chairman, and senior officials from relevant institutions.
2026-07-14 18:42:00
