The Securities and Exchange Commission of Pakistan (SECP) has directed all regulated entities to mandatorily adopt digital payment solutions, including Raast QR Codes, by October 31, 2025.
The directive applies to Non-Banking Finance Companies (NBFCs), insurance companies, Modarabas, securities brokers, and other licensed intermediaries. Under the new rules, digital payment facilities must be implemented and clearly displayed at all business outlets, while customers cannot be denied service if they choose to pay digitally.
SECP clarified that Raast QR codes are available free of cost and can be obtained from banks, microfinance banks (MFBs), or electronic money institutions (EMIs).
The initiative is part of Pakistan’s broader national vision of building a cashless economy, aimed at boosting financial inclusion, transparency, and efficiency across regulated sectors.
Industry experts believe the mandate will help reduce reliance on cash, promote digital adoption, and enhance customer convenience in financial transactions.
