In a move to accelerate the shift towards a cashless economy, the Securities and Exchange Commission of Pakistan (SECP) has directed all licensed entities to integrate digital payment solutions, with special focus on the adoption of Raast QR Code. This initiative aims to strengthen Pakistan’s digital payment framework by making cashless transactions more accessible and reliable for customers across regulated sectors.
According to the notification, all SECP-regulated businesses—including Securities Brokers, Insurance Companies, Modarabas, Non-Banking Finance Companies (NBFCs), and other licensed intermediaries—are required to implement digital payment facilities and display them prominently at their branches and offices.
These entities will also be prohibited from rejecting customer payments made through digital channels. By aligning with the State Bank of Pakistan’s digitization roadmap, SECP expects this step to enhance transparency, financial inclusion, and operational efficiency.
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The Commission has urged stakeholders to work closely with banks, microfinance institutions, and electronic money institutions to obtain Raast QR Code free of cost and ensure swift execution. This regulatory push reflects SECP’s long-term vision of promoting innovation, reducing reliance on cash, and creating a seamless digital ecosystem for businesses and consumers alike.
