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Pakistan is set to undergo a major shift in its retail landscape as the government moves to legally mandate Raast QR payments across the country.
A newly formed sub-committee is currently working on a draft legal package to amend the Payment Systems and Electronic Fund Transfers Act, 2007, which will enforce the acceptance of at least one digital mode of payment at retail outlets.
Sources told TechJuice the amendment’s core aim is to declare the requirement for retailers to be Raast QR-enabled. This monumental move is designed to accelerate the nation’s transition away from cash dominance and formalize the economy.
Crucially, the proposed amendment will grant local governments the necessary enforcement powers to ensure compliance among retailers operating under trade licenses. This decentralized approach is expected to speed up implementation, particularly in major urban centers.
While the new law is being finalized, local governments and regulatory bodies have been tasked with issuing interim notifications to immediately mandate Raast QR acceptance at all retailers within their jurisdiction.
