Digital Payment Merchants Cross 2 Million Under Cashless Pakistan Initiative
A high-level delegation of the Gates Foundation, led by Dr Anita Zaidi, President of the Gender Equality Division, and Dr Kalpana Kochhar, Interim President of the Global Policy & Advocacy Division, met with Minister of State for Finance and Revenue & Railways Bilal Azhar Kayani to review progress on Pakistan’s digital transformation agenda.
During the meeting, the minister briefed the delegation on the Cashless Pakistan initiative, launched under the direct supervision of Prime Minister Shehbaz Sharif. He highlighted the rapid expansion of digital payments and Raast QR adoption, noting that the number of active digital payment merchants has increased from 500,000 to 2.03 million, surpassing the June 2026 target of 2 million.
Pakistan Achieves June 2026 Digital Transactions Target, Says Bilal Azhar Kayani
Kayani said the growth has been supported by a Rs3.5 billion government subsidy for Raast QR, which has encouraged merchant adoption and helped promote a shift toward digital transactions. He also highlighted rising digital transactions, growth in digital banking users and improvements in financial inclusion, particularly in reducing the gender gap in access to financial services.
Gates Foundation Endorses Pakistan’s Cashless Drive, Assures Continued Support
The Gates Foundation delegation welcomed the progress made under the Cashless Pakistan initiative and expressed its continued support through Karandaaz. The minister also discussed broader economic reforms, including efforts to document and formalise the economy and the newly introduced Asaan Tax Scheme for small traders, which aims to encourage voluntary registration through incentives.
The government, he said, has set ambitious targets for the current fiscal year, including expanding merchant onboarding, digitising government payments and improving the overall user experience of digital financial services. The minister welcomed continued collaboration with the Gates Foundation and potential expansion of the partnership through a broader strategic framework.
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