Karachi: Taking a major step to promote cashless economy in the country, the State Bank of Pakistan has announced a subsidy of Rs 3.5 billion. This subsidy has been launched with the approval of the federal government and its aim is to popularize digital payments through ‘Raast’. According to the State Bank, this subsidy will be provided to those institutions that will provide Raast P2M i.e. Person-to-Merchant QR code facility to merchants. This facility will continue from September 1, 2025 to June 30, 2026.
According to the announcement, the subsidy amount will be given at the rate of zero point five percent of the transaction value or a maximum of Rs 100 per transaction and the payment will be made on a quarterly basis. Moreover, the State Bank has also allowed institutions to charge up to zero point two five percent of the transaction value. This decision will help attract small and medium businesses as well as consumers towards digital payments.
According to experts, this step will not only advance the vision of Digital Pakistan but will also improve transparency and efficiency in the country’s economy. It is expected that this step will significantly increase the trend of digital transactions and help in developing business activities on modern lines.
