SBP Boosts Digital Payments Ahead of Eid ul Azha

ISLAMABAD: In a bid to accelerate the adoption of digital finance, Pakistan’s central bank has teamed up with 22 leading commercial banks to promote SBP digital payments Eid ul Azha campaign across major cattle markets nationwide.

Running from May 15 to June 6, 2025, the initiative targets buyers and sellers of sacrificial animals, encouraging them to switch from cash to digital platforms for transactions involving livestock purchases, feed, water, and parking services.

The campaign will span 54 prominent cattle markets in 21 districts, building on the momentum of last year’s efforts, which saw over 4,000 merchants onboarded and 13,000+ digital transactions completed, totaling Rs560 million. This year, the State Bank of Pakistan (SBP) has set its sights even higher, aiming for 100,000 digital transactions during the campaign period.

To facilitate larger transactions typically associated with Eid animal sales, the SBP has temporarily enhanced transaction limits. The bank is also deploying on-ground teams and leveraging digital channels to educate vendors and customers, onboard more merchants, and provide support for mobile wallets, QR codes, and banking apps.

Promoting SBP digital payments ahead of Eid ul Azha, the central bank stated:

“We are working closely with the banking sector to ensure secure and convenient digital payment systems in designated cattle markets throughout Pakistan.”

This initiative reflects SBP’s broader mission to build a more inclusive, transparent, and cashless financial ecosystem, particularly in high-traffic, cash-heavy settings like livestock markets. The central bank aims to make digital financial tools more accessible to the general public during one of the country’s peak shopping seasons.

By reducing cash dependency and encouraging tech-enabled solutions, the campaign supports Pakistan’s national strategy to transition toward a digital economy, enhancing both efficiency and accountability in financial transactions related to Eid ul Azha.