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The State Bank of Pakistan (SBP) launched its Go Cashless campaign in Karachi, aiming to promote digital transactions and a cash-lite economy.
SBP Deputy Governor Saleem Ullah inaugurated the initiative at a Clifton mall, calling it part of a broader push for a more inclusive, documented digital economy.
“This campaign is not just an event – it’s a vision to accelerate Pakistan’s transition to a digital economy,” he said in the SBP’s official statement.
The initiative, run in collaboration with 12 leading financial institutions, focuses on educating vendors and customers about the benefits of digital payments.
Pakistan’s digital payment infrastructure has rapidly expanded, driven by Raast, SBP’s instant payment system, which has processed over 892 million transactions.
READ: Raast hits Rs 20Tln milestone in digital transactions
The value of Raast transactions since its 2021 launch now exceeds Rs 20 trillion ($72 billion), showing strong momentum in digital adoption nationwide.
In Q2 of FY 2025 alone, Raast handled 795.7 million transactions worth Rs 6.4 trillion ($23 billion), according to SBP data shared during the event.
Mobile and internet banking usage is also rising, with a 62 percent increase in transaction volume and a 35 percent overall growth in digital transactions in FY24.
These efforts support Pakistan’s economic reforms by bringing more individuals and businesses into the formal sector and boosting financial transparency.
The Go Cashless campaign aims to make digital payments a habit for everyone, from street vendors to corporate chains, improving access and ease of use.
