Key Takeaways
- Active digital payment merchants in Pakistan have reached 2.03 million.
- This number exceeds the government’s target of 2 million by June 2026.
- State Minister for Finance Bilal Azhar Kiyani attributed the growth to various factors.
The number of active digital payment merchants in Pakistan has significantly increased, reaching 2.03 million, according to State Minister for Finance Bilal Azhar Kiyani. This figure surpasses the government’s target of 2 million by June 2026, indicating a rapid and successful adoption of digital payment systems.
Speaking to a high-level delegation from the Gates Foundation, Kiyani highlighted the rapid growth in digital payments, noting that the number of active merchants has more than quadrupled from just 0.5 million in the past few years.
Kiyani attributed the growth to various factors, including the ease of use of digital payment systems, increased awareness among consumers, and the government’s initiatives to promote digital transactions.
The state minister emphasized the importance of digital payments in enhancing financial inclusion and reducing the reliance on cash transactions, which can help in curbing corruption and improving the overall economy.
According to Kiyani, the expansion of digital payment infrastructure has also contributed to the growth, with more businesses and individuals now able to access and use these services.
The surge in digital payment merchants is expected to continue as the government and private sector continue to invest in digital financial services and technology.
Kiyani’s comments come at a time when the government is focusing on digital transformation and financial inclusion as key priorities in its economic strategy.
The rapid growth in digital payments is seen as a positive development for Pakistan’s financial sector, potentially leading to increased economic activity and improved access to financial services for a broader segment of the population.
