Government Proposes Centralised Merchant Database to Boost Cashless Economy
A high‑level finance meeting approved a plan for a unified digital‑merchant registry, aiming to improve real‑time transaction monitoring and accelerate Pakistan’s cashless agenda.
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Desk Analysis
How This Affects the Exchange
Sector Effect
Positive · Buy bias
Banks and fintech‑related sectors benefit from increased digital transaction volume – Buy bias on related tickers.
Sectors & Direction
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Desk call: Buy bias · Positively affected
- BanksPositively affected
- TechnologyPositively affected
Companies
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Sectors: Banks, Technology — Positive · Buy bias. PSX tickers: HBL, MCB, UBL. Banks and fintech‑related sectors benefit from increased digital transaction volume – Buy bias on related tickers.
Full Story
Open on Business Recorder## Government Initiative
The Finance Division, chaired by Minister of State for Finance Bilal Azhar Kayani, approved the creation of a centralised database of digital merchants. The move is part of Prime Minister Shehbaz Sharif’s Cashless Pakistan Initiative and seeks to enhance real‑time visibility of transactions across the economy.
## Progress to Date
- Digital transactions rose from 6.9 billion to 11.3 billion in the last year. - Active merchants accepting digital payments jumped from roughly 500,000 to over two million. - Digital banking users now exceed 135 million.
## Key Proposals
- Establish a unified merchant registry to monitor digital payments more effectively. - Introduce new analytical indicators on the national Cashless Dashboard for better transparency and performance tracking. - Set annual performance targets for the dashboard for the current fiscal year. - Continue digitising government payments, aiming for full digital processing of vendor, employee and pension disbursements.
## Stakeholder Involvement
Senior officials from the Ministry of Finance, State Bank of Pakistan (SBP), NADRA, Capital Development Authority, Ministry of IT & Telecommunication, and private‑sector representatives participated. Discussions also covered simplifying digital payment journeys and strengthening coordination among regulators, banks, fintech firms and other private‑sector players.
## Outlook
The government aims to ensure every citizen has at least one digital payment option for all government‑to‑person transactions, including tolls, vehicle licences and utility bills. Regular reviews will track implementation, public convenience and the overall momentum of Pakistan’s digital financial transformation.