Pakistan has achieved another important milestone in its journey toward a digital economy, as the number of active digital payment merchants has crossed 2 million, according to Minister of State for Railways and Finance Bilal Azhar Kayani. The announcement came during a high level review meeting held at the Finance Division to evaluate the first year of the government’s Cashless Pakistan initiative.
During the meeting, officials highlighted remarkable progress across the country’s digital payments ecosystem. Annual digital transactions increased significantly from 6.9 billion to 11.3 billion, reflecting the growing adoption of digital financial services by businesses and consumers alike. The expansion has been largely supported by the successful implementation of the Raast QR Code initiative, which has encouraged merchants across Pakistan to accept secure digital payments.
The review also revealed that the number of digital banking users has now exceeded 135 million, demonstrating rising public confidence in digital financial solutions. Since its launch in June 2025 under the leadership of Prime Minister Shehbaz Sharif, the Cashless Pakistan initiative has focused on improving public convenience, increasing transparency, and promoting the formal documentation of the national economy.
Another key achievement discussed during the meeting was the country’s improved financial inclusion, which has reached 69 percent. Officials also noted continued efforts to reduce the gender gap in financial services through targeted policies that encourage greater participation by women in the digital economy.
The government is also accelerating the digitisation of public services. Around 25 major federal and provincial institutions have been identified for complete integration with the Raast payment system by December 2026. In addition, approximately 75 percent of government to people payments are now being processed digitally.
Speaking during the review, Bilal Azhar Kayani reaffirmed the government’s commitment to strengthening partnerships with regulators, banks, fintech companies, and the private sector. He also stressed the importance of transparency, accurate reporting, and independent verification to ensure public funds are used efficiently while supporting Pakistan’s long term digital transformation.
