Islamabad: Minister of State for Finance Bilal Azhar Kiani has highlighted the rapid expansion of digital banking and payment services in Pakistan, saying the number of digital banking users has reached 137 million.
Speaking to journalists in Islamabad, Kiani said the government was taking measures to make digital payments easier and more accessible as part of efforts to reduce the country’s reliance on cash.
He said the Raast instant payment system had played an important role in expanding digital transactions, while government support for Merchant Discount Rate (MDR) subsidies had encouraged businesses to adopt QR-based payment facilities.
The minister said digitalisation had also made significant progress across the public sector. Digital payments by major government institutions have increased from 9% to 76%, reflecting a substantial shift towards electronic transactions.
According to Kiani, more than two million merchants are now using digital payment facilities, indicating growing adoption of cashless transactions among businesses.
He said the government was working with the private sector to expand digital payment infrastructure and create an environment conducive to wider adoption of digital financial services.
The expansion of digital payments is expected to improve transaction efficiency, reduce dependence on physical cash and enhance transparency across the economy.
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