SECP mandates digital payment adoption

MG News | August 27, 2025 at 10:16 PM GMT+05:00

0:00

August 27, 2025 (MLN): The Securities and Exchange Commission of Pakistan (SECP) has directed all its licensed entities to adopt and display digital payment solutions, particularly Raast QR Codes, at their business outlets by October 31, 2025.

The directive applies to all SECP-regulated entities, including Non-Banking Finance Companies (NBFCs), Insurance Companies, Modarabas, Securities Brokers and other licensed market intermediaries.

Entities must ensure visibility of digital payment options at their outlets and cannot refuse customers opting to pay through digital means.

Aligned with the State Bank of Pakistan’s drive towards digitization, SECP stated that this initiative will enhance financial inclusion, transparency, convenience, and business efficiency across regulated sectors.

Stakeholders have been advised to collaborate with their banks, microfinance banks (MFBs), or electronic money institutions (EMIs) to obtain free-of-cost Raast QR Codes and ensure timely implementation.

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