The Pakistan Government, alongside its central bank, is pushing for rapid digitalization in payments, shifting from cash-based to digital transactions. This transition is supported by a strong digital banking infrastructure, with the government already paying employee salaries and vendor bills through Raast, an instant online payment system. The government aims to reduce cash circulation, boost tax revenues, and digitize financial systems, enhancing transparency and economic efficiency.
The digital payment ecosystem is growing rapidly, with millions of daily transactions through Raast and branchless banking channels. The government’s role is crucial in fostering trust in digital systems, as the shift to digital payments promises to reduce inflation, support the formal economy, and enhance financial inclusion.
