Pakistan’s move towards a cashless economy has gained significant momentum, Prime Minister Muhammad Shehbaz Sharif praised the efforts of the economic team for success in adopting digital payments. Over the past year, the country witnessed a remarkable 300 percent increase in the use of digital payment codes among active merchants, which the Prime Minister considers crucial for enhancing sustainable economic growth and transparency.
The meeting held today under the chairmanship of the Prime Minister highlighted several milestones achieved in the transition to a cashless system. The number of mobile banking app users increased from 95 million to 137 million within a year. Prime Minister Sharif emphasized the important role of banks and financial institutions in further promoting digital transactions.
During the briefing, key achievements were noted, including the digital transformation of the Benazir Income Support Program, which ensured fast and transparent payments transfer to its 10 million beneficiaries through digital wallets. Furthermore, from July 2025 to June 2026, 11.9 billion digital transactions were recorded in the country.
The Prime Minister directed that all remittances coming from abroad be fully digitized. Impressively, 92 percent of remittances were already received through digital means last year, reflecting a strong shift towards electronic transactions.
NADRA’s efforts were also commended, with 99 percent of its payments now digitized, reducing cash payments from 71 percent to just 1 percent. This transformation aligns with the ongoing third-party verification efforts, with a full report to be presented in November 2026.
Federal ministers and senior officials, including those from the Pakistan Banking Association, were present at the meeting. The association has set ambitious targets to further advance digital payments for its member banks, supporting the nation’s vision of a cashless economy.