Pakistan Single Window (PSW) plans to launch a new Unified Payment System (UPS) to facilitate payments for cross-border trade.
Importers and exporters will soon be able to use a pre-funded digital wallet to pay taxes, customs duties, and other trade-related charges. A licensed bank or a fintech company will operate the wallet under a framework approved by the State Bank of Pakistan (SBP). The system will utilise existing infrastructure instead of requiring the construction of a new technical framework.
Traders can maintain reusable balances and top them up via banking apps, portals, over-the-counter deposits, or Raast and inter-bank fund transfers (IBFT). Users are also permitted to withdraw funds from the wallet remotely. The wallet will settle payments based on payment advice generated within the PSW ecosystem.
This ecosystem includes the PSW platform, the Port Community System, the Maritime Single Window, the Air Community System, and the Customs Clearance System, alongside other linked services. The service provider is responsible for fund custody, top-ups, withdrawals, refunds, reversals, and settlements, as well as anti-money laundering checks and customer due diligence.
Pakistan Single Window itself will not hold, intermediate, or settle any customer funds. The wallet will connect to the PSW exclusively through the UPS. The system is designed to allow the addition of more payment providers in the future without requiring major structural changes.
Currently, trade payments within the PSW are processed through bank or payment-gateway-based mechanisms and Pre-Deposit (PD) accounts. The digital wallet serves as an additional option rather than a replacement for these current methods. Existing PD accounts will not be migrated to the new system.
