Pakistan cashless economy initiative is moving ahead with ambitious national targets set by specialised committees formed by the Prime Minister Shehbaz Sharif. The State Bank of Pakistan (SBP) has been tasked with expanding digital financial services, boosting fintech adoption, and increasing mobile and internet banking users.
The plan aims to raise active digital merchants to 2 million by the end of 2025-26, double annual digital payment transactions to 15 billion, and increase banking users from 95 million to 120 million within a year. Another major goal is to route 100 percent of overseas remittances through banks or mobile wallets, ending cash payouts and improving transparency.
Minister for IT Shaza Fatima highlighted that Pakistan’s 143 million broadband users give the country a strong base for digital transformation.
READ MORE: Govt Pushes for Cashless Economy with Digital Payment Options
Easypaisa and JazzCash remain the leading platforms, serving millions of users with services such as payments, loans, and insurance. JazzCash leads with 21 million active users, while Easypaisa has a strong urban base with 18 million.
With mobile wallets now outnumbering traditional accounts, the government sees them as central to financial inclusion and reducing reliance on cash.
