All Posts in #Fintech

April 8, 2026 - Comments Off on KP Proposes Digital Payment Bill to Transition Towards Cashless Economy

KP Proposes Digital Payment Bill to Transition Towards Cashless Economy

The Khyber Pakhtunkhwa government has introduced the Digital Payment Bill 2026, aiming to transition the province towards a cashless economy. The proposed law mandates businesses, educational institutions, and healthcare facilities to adopt digital payment systems and display QR codes for transactions. It also prohibits additional charges on customers using digital payments and imposes penalties on businesses that refuse to comply. Authorities say the initiative will enhance transparency, improve financial inclusion, and strengthen the provincial economy, with banks and service providers required to support implementation. The bill is currently awaiting approval in the provincial assembly.

 

February 17, 2026 - Comments Off on SBP Launches ‘Cyber Shield’ Strategy to Strengthen Financial Sector Cyber Resilience

SBP Launches ‘Cyber Shield’ Strategy to Strengthen Financial Sector Cyber Resilience

The State Bank of Pakistan has introduced “Cyber Shield,” a national cyber resilience strategy under its Vision 2028 agenda to address rising cyber threats to the banking and financial ecosystem. The phased roadmap, to be implemented by 2030, requires all regulated entities to align their cybersecurity frameworks with international best practices. The strategy prioritises incident resilience, governance, sector-wide cooperation, talent development, and adaptive security measures to safeguard digital payments, financial stability, and secure access to financial services amid growing cybercrime risks.

August 18, 2025 - Comments Off on PM pushes for cashless economy and digital IDs

PM pushes for cashless economy and digital IDs

Prime Minister Shehbaz Sharif reaffirmed the government’s commitment to accelerating Pakistan’s transition to a cashless economy. Chairing a review meeting in Islamabad, he directed provincial chief secretaries to support the federal government in expanding the Raast digital payment system to the district level.

The meeting was briefed that Pakistan will build digital public infrastructure, including digital IDs for every citizen, by integrating national identity cards, biometrics, and mobile numbers. These IDs will enable secure and efficient transactions across the economy.

Officials reported that provinces have made progress in linking government-to-public and public-to-government payments with the Raast system. The federal government has also approved right of way for fibre connectivity, while discussions continue with Pakistan Railways and the National Highway Authority to expand digital infrastructure nationwide.

May 11, 2025 - Comments Off on Tech community urges development of alternative payment channels

Tech community urges development of alternative payment channels

As global financial platforms increasingly restrict access to Pakistani users due to geopolitical tensions, local tech experts are calling for the urgent development of alternative payment systems. Freelancers, digital creators, and startups have expressed frustration over the loss of business opportunities, especially due to disruptions in PayPal, Stripe, and similar services. Experts emphasised that reliance on foreign financial platforms puts Pakistan’s digital economy at risk and advocated for homegrown solutions backed by robust fintech infrastructure. The call comes amid tightening cross-border scrutiny following cyberattacks and media crackdowns.