Govt makes digital payments mandatory for retailers nationwide

ISLAMABAD: The Pakistan government has made at least one digital payment method mandatory for retail outlets, shops and retailers across the country.

This will include QR code systems in particular. The government has decided to introduce QR code systems under the Cashless Pakistan Program.

The aim of which is to reduce dependence on cash, promote financial transparency, and strengthen the digital economy.

Minister of State for Finance Bilal Izhar Kayani said during the policy debate that every retail outlet will have to provide at least one digital payment option. Such as a QR code or other acceptable digital payment system.

He said that a legal framework is being prepared at the federal and provincial levels for the effective implementation of this decision. So that this initiative can be implemented permanently.

According to government officials, the implementation of this policy will increase the trend of cashless payments. It will be possible to monitor tax evasion and unregistered businesses. While financial transparency will increase.

He said that retailers will have to adopt digital payment systems. Otherwise, the concerned authorities can take action.

This move is part of the digital policy of the Ministry of Finance and the State Bank of Pakistan. Under which various steps are being taken to promote digital payments and increase financial inclusion.