Key Takeaways
- Cashyn by QSPL won the Merit Award at the P@SHA ICT Awards 2026.
- The platform has processed over 37 million transactions worth PKR 91 billion.
- Cashyn has expanded to 16,000 merchants in 120+ cities, focusing on rural areas.
Cashyn, a financial services platform by Quwat Services Private Limited (QSPL), has been honoured with the Merit Award at the P@SHA ICT Awards 2026 in the Inclusion & Community category. The recognition underscores Cashyn's significant impact in bringing financial services to rural and remote areas of Pakistan.
According to the World Bank’s Global Findex 2025, 1.3 billion adults worldwide still lack financial accounts, with Pakistan being one of the eight economies where more than half of the unbanked population resides. In Pakistan, the unbanked are predominantly found in rural and remote areas, where cash remains the primary means of transaction.
Cashyn was designed to bridge the gap between cash and digital, making financial services accessible at the community level. The platform turns neighbourhood retailers and micro-entrepreneurs into trusted financial access points, allowing customers to deposit, withdraw, pay bills, and transfer money locally.
Since its launch in 2025, Cashyn has made significant strides. It has established a network of over 16,000 active merchants across 120+ cities, processed more than 37 million transactions, and moved over PKR 91 billion. Of these transactions, PKR 52 billion, or 57%, have come from rural and remote areas, demonstrating the platform's potential for large-scale financial inclusion.
The recognition at the P@SHA ICT Awards 2026 is a testament to Cashyn’s mission to empower merchants and bridge the financial divide. The platform’s digital e-KYC process enables new merchants to go live in seconds, making it easier for them to access formal financial services.
Cashyn’s impact extends beyond individual transactions. The platform also powers QSPL’s corporate cash collection service, which replaces traditional cash-in-transit operations with a distributed collection network. This system reduces the risk of theft, fraud, and human error, while providing real-time financial insights to companies.
For women in Pakistan, who are less likely to have financial accounts, a trusted shop in their neighbourhood is often more accessible than a distant bank branch. Cashyn’s network of merchants serves as a vital link, ensuring that financial services are available where they are needed most.
QSPL’s corporate cash collection service has also seen significant growth. Through more than 4,000 designated retail collection outlets nationwide, companies can deposit their cash locally and monitor their funds in real-time, streamlining the reconciliation process.
The success of Cashyn highlights the potential for technology to address financial exclusion in rural and remote areas. The platform’s rapid expansion and widespread adoption underscore its importance in Pakistan’s financial landscape.
