Digital payments surge as users cross 2 million in Pakistan

More than 2 million people in Pakistan are now using digital transactions, up from 500,000, State Minister for Finance and Railways Bilal Azhar Kayani said on Thursday, citing the government’s cashless economy drive as a key factor behind the increase.

Kayani made the remarks during a meeting with a delegation from the Gates Foundation, led by Dr Anita Zaidi, president of its Gender Equality Division. Acting president of the foundation’s Global Policy and Advocacy Division, Dr Kalpana Kochharand other senior officials were also part of the delegation.

Digital payments gain ground

Kayani said Pakistan had achieved the target set for June 2026 and was working to further expand the use of digital transactions. He attributed the rise in digital payments in part to the government’s Rs3.5 billion subsidy for promoting Raast QR, saying the initiative had helped expand the use of digital payment systems.

The minister said the government was also pursuing reforms to document the economy and bring more people into the formal financial system.

“Reforms for documenting the economy, increasing public participation in the financial system and improving the transparency and efficiency of government payments are continuing at a fast pace and are producing positive results,” Kayani said.

The meeting also covered Pakistan’s digital transformation, economic reforms and progress towards a cashless economy.

The Gates Foundation delegation welcomed the government’s reform measures and assured Kayani of its continued support for the Cashless Pakistan initiative and the broader economic reform agenda.

The foundation also expressed its intention to expand cooperation through Karandaaz, which works on initiatives related to financial inclusion and economic development.