Pakistan digital payment expansion

Pakistan has experienced significant growth in digital financial adoption under the Cashless Pakistan Initiative. By June 2026, active digital commerce payment points increased by 306% to reach 2.03 million, with 1.73 million merchants utilizing Raast QR payments. The number of users accessing mobile and digital banking services rose from 95 million to 137 million, while digital transactions increased from 6.9 billion to 11.9 billion.

Government-to-person (G2P) disbursements through digital channels also grew substantially, rising from Rs472 billion in July 2025 to Rs4.402 trillion in June 2026. In response to this ecosystem growth, 1Pay.pk issued guidance for merchants to improve security at physical payment points to prevent fraud.

Following this broader adoption, the Central Depository Company of Pakistan (CDC) and EClear Services Limited expanded the use of the Raast framework into the capital market. This integration introduces Raast Person-to-Merchant (P2M) solutions and IBAN-CNIC validation services. EClear Services is expected to implement Raast P2M Request to Pay Later (RTPL) and Dynamic QR Code technologies to automate processes such as debit and margin calls, providing a digital alternative to manual bank transfers.