Pakistan’s central bank took a major step toward financial digitisation with the launch of its “Go Cashless” campaign in Karachi. The State Bank of Pakistan (SBP) partnered with a prominent Clifton shopping mall to accelerate the nation’s shift toward digital payments.
SBP Deputy Governor Saleem Ullah emphasised the campaign’s strategic importance, stating that it represents more than a one time event, and a promising commitment towards building Pakistan’s digital economy.
The program targets all levels of commerce, from street vendors to large retailers, encouraging the widespread adaptation of cashless transactions as part of broader efforts to enhance financial and economic documentation.
This push is built on the remarkable success of Raast, Pakistan’s homegrown instant payment system launched in 2021. The platform has already processed over 892 million transactions worth approximately Rs20 trillion ($72 billion), showing rapid public adoption of digital financial solutions.
The campaign comes as Pakistan seeks to modernise its financial infrastructure, reducing informal economic activity, and create a more inclusive banking ecosystem.
By bringing together major financial players and targeting both consumers and businesses, the SBP aims to make digital payments the norm rather than the exception across Pakistan’s economic landscape.