Pakistan’s move towards a cashless economy has entered a more practical phase. After a high-level meeting on 6 November, the prime minister directed officials to prepare a nationwide roadmap with timelines and measurable targets. The briefing also identified a near-term change: cheque-based payments under Asaan Assignment Accounts are to stop after 15 November, with payments shifting to the Raast digital system from 16 November 2026.
For citizens, merchants and government employees, the key question is what this means in daily life. The announcement does not mean that cash has been banned or that every person must immediately stop using notes. It describes a government programme to move more payments through digital channels, while acknowledging that internet access, technology access and user difficulties still need to be addressed.
What has actually been announced?
| Date or milestone | What was announced | Who is directly affected |
|---|---|---|
| 6 November 2026 | The prime minister asked authorities to prepare a time-bound roadmap for a wider digital-payments system. | Federal and provincial departments responsible for implementation. |
| 15 November 2026 | Cheque-based payments under Asaan Assignment Accounts are to be discontinued. | Departments and recipients who use these accounts for official payments. |
| 16 November 2026 | Payments under those accounts are to be processed through Raast. | Relevant drawing and disbursing officers and account holders. |
| December 2026 | Most government institutions are expected to have digitised their payments. | Government institutions; this is an implementation target, not a claim that every payment is already digital. |
The briefing also said that Benazir Income Support Programme payments were already being made through digital wallets. A separate system for digital payments in areas without internet connectivity was described as being under development. That distinction matters: the government has acknowledged that a digital system must work for people who do not have reliable connectivity.
What is Raast, and how is it different from a bank transfer?
Raast is the State Bank of Pakistan’s instant payment system for domestic transfers. It supports person-to-person payments as well as merchant payments. Depending on the service offered by a bank or payment provider, users can pay through an IBAN, a registered merchant alias, a request-to-pay feature or a QR code.
For a shopkeeper, a Raast QR code can provide a way to accept digital payments without relying only on a card terminal. For a customer, the QR code can be scanned through a participating bank or wallet app. The payment still needs to be checked and confirmed inside the app; a picture of a successful transaction shown by another person is not proof that money has reached the merchant.
Raast is a domestic payment system. It should not be confused with an international remittance service or a foreign-currency transfer platform. People sending money abroad or receiving payments from overseas should check the relevant bank or regulated provider’s separate service and charges.
What happens when a utility bill carries a QR code?
The prime minister has asked for a campaign encouraging electricity and gas consumers to use QR codes printed on their bills. The practical idea is to let a customer open a participating payment app, scan the code and review the bill details before confirming the payment.
Consumers should still check the biller’s name, reference or consumer number and amount before approving a transaction. Use the QR code printed on the original bill or a trusted official digital bill—not a code forwarded in a WhatsApp group or sent by an unknown person. If the app displays a recipient that does not match the utility provider, stop and verify through the provider’s official customer channel.
What a cashless economy could improve
Digital payments can reduce the need to carry cash, create a searchable transaction record and make it easier for businesses to reconcile sales. For government departments, electronic payments can improve traceability and reduce the handling of physical cheques. For people receiving regular public payments, a wallet or bank account can make the payment route more direct.
But the benefits depend on the quality of implementation. A merchant needs a reliable way to confirm that a payment has arrived. A customer needs a clear complaint route when a transfer is delayed or sent to the wrong recipient. A department needs reconciliation records and a process for correcting failed payments. Digitising an inefficient process without fixing these problems can simply move the frustration from a counter to a phone screen.
The main barriers are access, trust and dispute handling
Pakistan’s digital-payment transition faces several practical constraints. Some users have limited mobile data or unstable connectivity. Others share phones, use basic devices, have difficulty reading app instructions or do not feel confident entering financial information. Small businesses may need help obtaining a merchant QR code and reconciling transactions.
There is also a security challenge. Fake payment screenshots, impersonation calls, fraudulent QR codes and messages promising government cash rewards can exploit people who are still learning digital services. The National Cyber Crime Investigation Agency recently warned about fake messages claiming that the prime minister was offering a Rs13,000 reward. Verity’s guide to the fake Rs13,000 reward message explains how to recognise and report that fraud.
For businesses and freelancers, digital payment access is also part of the wider challenge of collecting money reliably. Verity has examined payment gateway barriers facing Pakistani online businesses; a stronger domestic payment system does not by itself resolve international payment access.
How to use QR and Raast payments more safely
- Open your bank or wallet app yourself; do not follow a payment link sent by an unknown number.
- Before confirming, check the recipient name, amount and bill or invoice reference.
- Never share your PIN, password or one-time password with a caller, merchant or person claiming to help with a payment.
- Wait for confirmation inside your own app or account statement. Do not rely on a screenshot supplied by the payer.
- If a transaction is pending, check its status with your bank before paying again.
- If you suspect fraud, contact your bank or wallet provider through its official app or published helpline and preserve the transaction details.
Merchants should display QR codes issued through their bank or regulated payment provider, check the account statement or merchant interface for confirmation, and keep a simple daily reconciliation record. Staff should be trained not to release goods solely because a customer shows a screenshot.
Does this mean cash will be banned?
No such nationwide cash ban was announced in the roadmap. The government has set targets for digitising institutional payments and encouraged consumers and merchants to use digital channels. It has not announced that ordinary people must stop using cash for all private purchases. Nor has it published a complete timetable for every private-sector transaction.
The test of a successful cashless programme will be whether digital payments are convenient, reliable and accessible—not whether people are forced to use a channel that does not work for them. Offline capability, accessible customer support, clear dispute resolution and protection against fraud should be treated as essential parts of the roadmap.
Official Raast guide: State Bank of Pakistan’s Raast Person-to-Merchant payment information.