Prime Minister Shehbaz Sharif on Tuesday directed all overseas remittances to be processed through digital channels to accelerate Pakistan’s transition toward a cashless economy and enhance financial transparency.
Chairing a meeting on promoting a cashless economy and digital payments, he praised the economic team for increasing the number of active merchants using QR code-based digital payments by 300%, to 2.003 million, within a year. He also described the rise in mobile banking application users from 95 million to 137 million as a major achievement.
Sharif directed the relevant authorities to further strengthen awareness campaigns to encourage greater adoption of QR code-based digital payments among merchants. He also called on banks and financial institutions to play a more proactive role in accelerating the country’s transition to a cashless economy.
Appreciating the shift of Benazir Income Support Program (BISP) payments to a digital system, the prime minister described it as more transparent, faster, and more convenient for beneficiaries.
The meeting’s participants were informed that 99% of National Database and Registration Authority (NADRA) payments have been digitized, while the share of cash payments has declined sharply from 71% to just 1%. Similarly, they were told that all payments to 10 million BISP beneficiaries are now being made through digital wallets.
According to the briefing, 11.9 billion digital transactions were recorded between July 2025 and June 2026. Additionally, 92% of remittances from overseas Pakistanis were received through digital channels.
An independent third-party validation of the cashless economy initiative is currently underway, and the final report, along with recommendations, will be presented in November 2026, the prime minister was informed.
The Pakistan Banks’ Association has assigned targets to its member banks to promote digital payments, including the Raast instant payment system.