digital payments
RAAST Payments to Be Enabled in Online Shopping, Orders SBP
Banks and financial institutions have been instructed by the State Bank of Pakistan (SBP) to implement the RAAST payment system in e-commerce and online purchasing…
Pakistan’s October 2024 Remittances Hit $3.05bn, Reflecting 24% Annual Growth
The State Bank of Pakistan (SBP) released data indicating that the inflow of overseas workers’ remittances into Pakistan was $3.052 billion in October 2024, a…
SBP Grants In-Principle and Pilot Operations Approvals to EMIs and PSOs/PSPs
The State Bank of Pakistan (SBP) has granted in-principle approval to Toko Lab Private Limited and Accept Technologies Private Limited (PayMob) for establishing their operations…
Paper-Based Transactions Decline for Second Year; Retail Payments Reach 6.4 Billion in FY24
The State Bank of Pakistan (SBP) has recently published its payment system review for fiscal year 2024, and the statistics show that the paper-based payment…
Elon Musk’s X Gets Currency Transmitter License, Might Introduce Crypto Payments Soon
Acquiring licenses in multiple states, X can now start processing payments in crypto as well as fiat currencies, pushing it a step further into Musk’s…
Alliance Francaise forms an alliance with PayPro to facilitate people with digital payments
Alliance Francaise recently signed an agreement with PayPro (Private) Limited in concomitance of digitization and disruption in the economic ecosystem within the country, Alliance Francaise…
Govt to pay salaries, employee pensions via Raast instant payments system
The State Bank of Pakistan (SBP) has decided to digitize the payment process for salaries and payments of government employees through Raast instant payments system.…
Ministry of IT set to launch digital payment gateway soon in Pakistan
In recent news, the Federal Secretary of Information Technology and Telecommunication, Shoaib Ahmed Siddiqui, stated that a world-class digital payment gateway will soon be launched…
SBP permanently removes charges for Internet and mobile banking services
The State Bank of Pakistan (SBP) has waived off the fees on various internet and mobile banking services for consumers. The announcement was made by…
Online financial fraud in Pakistan increased by 63% in 2020: report
According to a new report, financial fraud cases in Pakistan have witnessed an increase of 63%. With the rise of digital transactions and online banking…
Pakistani fintech startup called PayPro receives a grant of Rs 7.4 million from USAID and SMEA
A Pakistani fintech startup hyper-focused towards business to business (B2B) and business to consumer (B2C) payments recently received a grant of nearly Rs 7.4 million…
Collaborative Digital Ecosystem Imperative for Digitizing Payments: Irfan Wahab Khan – CEO Telenor Pakistan
In the wake of the Covid-19 pandemic, where Pakistan experienced accelerated digital adoption, there was also a significant boost in the use of digital payments.…
WhatsApp to launch digital payments service
WhatsApp is planning to launch digital payments service in India, its largest market with over 200 million users. Facebook-owned instant messaging platform is working to…
