Islamabad: The number of people using digital payment and transaction services in Pakistan has increased significantly, rising from around 500,000 to more than 2 million, according to Minister of State for Finance and Railways Bilal Azhar Kayani.
Speaking during a meeting with a high-level delegation from the Bill & Melinda Gates Foundation, Kayani said the increase was achieved under Prime Minister Shehbaz Sharif’s agenda to promote a cashless economy. The meeting focused on Pakistan’s digital transformation, economic reforms, financial inclusion and progress toward reducing reliance on cash.
Kayani said the government had set a target of increasing the number of people using digital transactions by June 2026, and the target has now been achieved. He added that the government intends to further expand the number of digital payment users across the country.
According to the minister, the promotion of Raast QR payments has played an important role in encouraging people and businesses to adopt digital transactions. The government provided a subsidy of approximately Rs3.5 billion to support the expansion and use of Raast QR-based payments.
The increase in digital transactions is part of broader government efforts to modernize Pakistan’s financial system. Greater use of digital payments can help reduce dependence on cash, improve transparency and bring more economic activity into the documented financial system.
Kayani said the government is also working on economic reforms aimed at improving financial inclusion. He emphasized the importance of bringing more people into the formal financial system so that individuals and businesses can access modern payment services more easily.
The minister further stated that digitalization can contribute to better documentation of the economy. A shift from cash to electronic payments creates more traceable transactions, which can assist efforts to improve tax compliance and strengthen the formal economy.
Another key area discussed during the meeting was transparency in government payments. Kayani said reforms were being implemented to make public-sector payments more transparent and efficient through digital systems.
The Bill & Melinda Gates Foundation delegation included Acting President of the Global Policy and Advocacy Division Dr. Kalpana Kochhar and other senior officials. The delegation discussed Pakistan’s digital transformation and the government’s broader economic reform agenda.
The delegation appreciated the government’s initiatives aimed at expanding digital financial services and supporting a cashless economy. The foundation also expressed its intention to continue supporting efforts toward a cashless Pakistan and broader economic reforms.
The rapid increase in digital transaction users highlights the growing adoption of electronic payments in Pakistan. However, continued expansion will depend on reliable digital infrastructure, public awareness, affordable access to financial services and confidence in electronic payment systems.
The government’s focus is now expected to move beyond achieving the initial target and toward bringing millions more people and businesses into the digital financial ecosystem. If sustained, the transition could help improve financial inclusion, strengthen economic documentation and reduce the country’s dependence on cash-based transactions.
About The Author
