State Bank of Pakistan (SBP) has launched a nationwide “Go Cashless” campaign for Eid-ul-Azha 2026 to promote digital payments in cattle markets and reduce dependence on cash transactions during one of Pakistan’s busiest seasonal trading periods. The central bank said the campaign forms part of its broader strategy to accelerate digitisation of Pakistan’s payment ecosystem […]
NBP Expands Digital Payment Push With Raast P2M Launch
National Bank of Pakistan (NBP) has received approval to launch Raast Person-to-Merchant acquiring services commercially. The move marks another step in Pakistan’s shift toward digital payments and a cashless economy. The approval allows NBP to begin full commercial operations under the Raast framework developed by the State Bank of Pakistan. NBP announced the development in […]
easypaisa Profit Jumps 4.4 Times in Record Q1 2026 Results
Pakistan’s easypaisa Digital Bank reported record quarterly earnings for the first quarter of 2026, driven by strong growth in digital transactions, customer deposits and lending activity, as the country’s financial sector continues to shift toward mobile-first banking services. The bank announced that profit before tax (PBT) surged to PKR 3.66 billion for the quarter ended […]
Pakistan Could Hit $50 Billion Remittances With Crypto Legalisation
Pakistan’s annual remittance inflows could rise to $50 billion if cryptocurrencies are legalised and properly regulated, according to Malik Bostan, chairman of the Exchange Companies Association of Pakistan. Speaking at a meeting of exchange company stakeholders on April 28, Bostan said remittances currently stand at around $38 billion. He argued that integrating digital assets into […]
SECP Clears Alibaba-Backed Firm to Launch Credit Service in Pakistan
China’s Alibaba Group has formally entered Pakistan’s financial services market through a local unit that will offer “buy now, pay later” services, marking a significant expansion into the country’s growing digital economy. The move follows regulatory approval by the Securities and Exchange Commission of Pakistan, which granted a non-banking finance company license to Coco Tech […]
Faysal Bank Introduces Pakistan’s First Cardless ATM Withdrawal via Mobile
Faysal Bank Limited has introduced Pakistan’s first Mobile Tap and Withdraw service, allowing customers to withdraw cash from ATMs using their smartphones without the need for a physical debit card. The service enables users to digitise their debit or Noor card through the Faysal Digibank mobile application, turning their smartphones into secure, contactless access tools […]
Big Move: Pakistani Teens Can Now Open Bank Accounts Independently
In a landmark move aimed at boosting financial inclusion, the State Bank of Pakistan has introduced a new framework allowing teenagers to independently open and operate bank accounts and digital wallets across the country. New Framework for Youth Banking According to reports, the initiative enables individuals aged 13 to 18 to manage their own bank […]