Speaking at a ceremony marking the launch of Z-Wallet, Bilal Azhar Kayani said the government was working with the public and private sectors to promote digital payments across Pakistan.
He said the digital payment system had been strengthened by the introduction of Raast, and that the government was working to make digital transactions easier for users.
According to the minister of state, over two million traders are now using digital payment facilities, while the number of digital banking users has reached 137 million.
The government has also provided subsidies on merchant discount rates (MDR) to encourage payments through QR codes, he said.
Bilal Azhar Kayani said significant progress had also been made in digitizing government payments.
The proportion of digital payments made by government departments had risen from 9 percent to 76 percent, while payments by self-accounting entities had increased from 5 percent to 75 percent.
More than 10 million BISP beneficiaries are already receiving their payments digitally, he said.
Under the new system, BISP beneficiaries will be able to use their digital wallets much like bank accounts. The wallets will allow users to pay utility bills and transfer money, as well as receive government payments.
He said the government’s ultimate goal was to make all government payments fully digital, making the system more transparent, convenient and efficient.
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