Summary Pakistan has recorded significant growth in digital financial transactions under the Cashless Pakistan initiative, with merchant adoption, digital banking users and annual transactions rising sharply
ISLAMABAD (Dunya News) – Pakistan has witnessed significant growth in digital financial transactions under the government's Cashless Pakistan initiative, with the number of merchants accepting digital payments, digital banking users and overall transaction volumes increasing substantially over the past year.
According to an official statement, the number of active merchants accepting digital payments has risen from 500,000 to more than two million, reflecting the expanding adoption of cashless payment solutions across the country.
The statement said the government's Raast QR Code initiative has played a key role in promoting digital payments by enabling businesses and consumers to conduct secure and convenient electronic transactions nationwide.
The number of digital banking users has also increased to more than 135 million, while annual digital transactions have climbed from 6.9 billion to 11.3 billion, highlighting growing public confidence in digital financial services.
Reviewing the one-year performance of the Cashless Pakistan initiative, Minister of State for Finance Bilal Azhar Kayani said the government aims to fully digitise 25 federal and provincial institutions through the Raast payment system by December 2026.
He added that nearly 75 percent of payment collections in government institutions can now be received digitally, marking a significant step towards improving efficiency and reducing reliance on cash-based transactions.
Kayani said the government also plans to conduct an independent third-party audit to ensure transparency, improve accountability and eliminate duplicate data within the digital payment ecosystem.
The minister reiterated that the government remains committed to expanding a modern, transparent and efficient digital payment infrastructure to strengthen financial inclusion and accelerate Pakistan's digital economy.
