The State Bank of Pakistan (SBP) is gearing up to introduce a QR code payment mechanism through Raast, aimed at facilitating the purchase of sacrificial animals during Eidul-Azha.
Ahmed Sumair, Deputy Director at SBP, revealed this development during the 17th international conference titled ‘Mobile Commerce 2024’. He stated that collaboration with 25 banks is underway, with plans to implement QR code payments in 50 major cattle markets.
Sumair emphasized the significance of this initiative for cattle farmers and expanding financial inclusion through Raast. The project aims to enable secure transactions for purchasing sacrificial animals, potentially tapping into the substantial Rs550-600 billion cattle purchases annually through digital banking during the religious festival.
Furthermore, markets in all 15 cities with SBP field offices, including Karachi, Lahore, Islamabad, Rawalpindi, Faisalabad, and Hyderabad, have been identified for QR code payment implementation. Sumair noted that six cattle markets in Karachi alone will be covered during Eidul Azha.
Daraz Pakistan, the country’s leading e-commerce platform, has entered into a partnership with Walee, the…
Despite crowded markets and high expectations, Karachi’s traders have expressed disappointment over sluggish sales during…
Prime Minister Shehbaz Sharif has announced a reduction in electricity tariffs, lowering the national average…
The much-anticipated drama Shirin Farhad has officially hit the screens, and fans can’t stop talking…
PepsiCo Pakistan is advancing its food security efforts this Ramadan through the "Filling Hearts" initiative,…
BYD released its 2024 financial report, with key indicators reaching record highs! The company achieved…
This website uses cookies.
