{"id":5613,"date":"2025-08-07T10:46:35","date_gmt":"2025-08-07T05:46:35","guid":{"rendered":"https:\/\/pkfin.kotenterprises.dev\/?p=5613"},"modified":"2025-08-07T10:46:35","modified_gmt":"2025-08-07T05:46:35","slug":"sbp-rolls-out-nationwide-strategy-to-boost-digital-payment-acceptance-at-all-retail-outlets","status":"publish","type":"post","link":"https:\/\/pkfin.kotenterprises.dev\/?p=5613","title":{"rendered":"SBP Rolls Out Nationwide Strategy to Boost Digital Payment Acceptance at All Retail Outlets"},"content":{"rendered":"

The State Bank of Pakistan (SBP)<\/a> has developed a comprehensive national implementation strategy<\/strong> to ensure the availability of digital payment acceptance infrastructure<\/strong>, including Raast QR codes, POS, and Soft POS, at all retail and commercial outlets across the country.<\/p>\n

In a strong push toward a cashless economy<\/strong>, the Prime Minister\u2019s Office (PMO)<\/strong> has directed all Federal Secretaries, Provincial Chief Secretaries, and Heads of Regulatory Bodies<\/strong> to ensure that retail outlets within their jurisdiction obtain and prominently display Raast QR codes by August 31, 2025<\/strong>.<\/p>\n

The directive, issued by Prime Minister\u2019s Advisor Syed Tauqeer Ali Shah<\/strong>, underscores the government\u2019s commitment to driving digital financial inclusion and strengthening the formal economy. Official communications have been made to senior officials, including Kamran Ali Afzal (Secretary, Cabinet Division), Dr Muhammad Fakhre Alam Irfan (Secretary, Power Division), and Chief Secretaries of all provinces and regions, among others.<\/p>\n

Key Measures Outlined by PMO<\/h3>\n

The Prime Minister\u2019s Office has called for immediate action<\/strong> on the following:<\/p>\n

    \n
  1. \n

    Mandatory Digital Acceptance<\/strong>: All businesses and retail outlets must obtain and display Raast QR codes<\/strong> by the August 31 deadline.<\/p>\n<\/li>\n

  2. \n

    Licensing Requirements<\/strong>: Digital payment readiness<\/strong> (such as QR code or POS installation) to become a mandatory condition<\/strong> for obtaining or renewing commercial operation licenses.<\/p>\n<\/li>\n

  3. \n

    Compliance & Enforcement<\/strong>: Establishment of compliance mechanisms<\/strong> including penalties<\/strong> for businesses that refuse to accept digital payments<\/a>.<\/p>\n<\/li>\n

  4. \n

    Collaboration with Banks & Fintechs<\/strong>: Ministries to coordinate closely with SBP<\/strong>, banks, Microfinance Banks (MPBs), and Electronic Money Institutions<\/a> (EMIs) to scale the acceptance network.<\/p>\n<\/li>\n<\/ol>\n

    To ensure smooth execution, Dr. Shazia Ghani<\/strong>, Team Lead (Special Projects & Initiatives) at the PMO, has been appointed as the focal person<\/strong> for this initiative. Ministries and departments are encouraged to coordinate with her and SBP for timely implementation and operational support.<\/p>\n

    SBP\u2019s Revised Digital Payment Targets<\/h3>\n

    As part of the strategy, the SBP\u2014based on recommendations from the Sub-Committee on Digital Payments Innovation<\/a> and Adoption\u2014has set revised performance targets<\/strong> to be achieved by FY 2026:<\/p>\n