RAAST processes over 892m transactions as SBP Launches ‘Go Cashless’ Campaign

KARACHI– Pakistan’s first instant digital payment system,Raast, developed by theState Bank of Pakistan (SBP), has crossed a major milestone, processing over892 million transactionswith a total value exceedingRs 20 trillionsince its launch. The announcement came during the launch of the‘Go Cashless’campaign, inaugurated byDeputy Governor SBP Saleem Ullahat a local mall in Clifton, Karachi. The campaign, organized in collaboration with12 leading financial institutions, is part of thePakistan Financial Literacy Week (PFLW) 2025. It aims to educate vendors and consumers about the convenience, security, and benefits of digital payments—encouraging a shift towards acashless economy. Speaking at the event, Saleem Ullah emphasized that the campaign is not a one-off initiative but part of a broader strategic vision toacceleratePakistan’s transition to a digital economy. He shared that inQ2 of 2025 alone, the Raast platform handled795.7 million transactionsamounting toRs 6.4 trillion. Highlighting the growing adoption of digital financial services, he noted a62% growthin transactions via mobile and internet banking. In FY24, thevolume of digital transactions grew by 35%, rising fromRs 4.7 billion to Rs 6.4 billion, with the total value hittingRs 547 trillion. The ‘Go Cashless’ initiative reflects the SBP’s commitment to promotingfinancial inclusion, innovation, and integration inPakistan’s payment landscape. From small vendors in local markets to large retail chains, the campaign seeks to demonstrate thatdigital paymentsare not only a viable alternative but should be thepreferred mode of transaction. “The future of payments in Pakistan is digital,” said Saleem Ullah. “With campaigns like Go Cashless, we’re showing people that going digital iseasy, secure, and empowering.” The campaign is expected to continue in various cities as part of SBP’s ongoing efforts to create acash-lite, inclusive economy.