SBP deputy governor inaugurates ‘Go Cashless’ campaign in Karachi

April 20, 2025 (MLN): To promote a shift towards a cashless economy, the ‘Go Cashless’ campaign was inaugurated by Deputy Governor State Bank of Pakistan Saleemullah at a local mall in Clifton, aiming to educate both vendors and customers about the use and benefits of digital payment solutions.

The campaign was organized in collaboration with 12 leading financial institutions.

This initiative was aimed to educate both vendors and customers about the use and benefits of digital payment solutions, promoting a shift towards a cashless economy.

Mr. Saleemullah outlined that this ‘Go Cashless’ campaign is not just an event it is part of a broader vision to accelerate Pakistan’s transition towards a digital economy, as per the press release.

Elaborating the key digital payments statistics Mr. Saleemullah highlighted that the SBP’s flagship platform, Raast handled 795.7 million transactions worth Rs6.4 trillion in Q2 of 2025.

He observed that a staggering 62% growth in the number of transactions through mobile and internet banking has been witnessed.

Raast has processed over 892m transactions amounting to Rs20tr since its launch.

He also expressed that the digital transactions grew by 35% in FY24, with volume increasing from Rs4.7 billion to Rs6.4bn, and their value reaching Rs547tr.

Furthermore, to promote the SBP’s broader agenda to enhance financial inclusion and accelerate digital adoption in Pakistan, this ‘Go Cashless’ activity was organized.

The campaign reflected the future of digital payments in Pakistan that is all about inclusivity, innovation, and integration.

SBP goal is a cash-lite economy where digital payments are not just an alternative, but the preferred choice for everyone from a small vendor in a mandi to a large retail store in a mall.

With campaigns like this at a local mall, SBP is showing people that going cashless is easy, secure, and empowering.

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