SBP deputy governor inaugurates ‘Go Cashless’ campaign in Karachi mall

KARACHI: Deputy Governor State Bank of Pakistan Saleemullah inaugurated the ‘Go Cashless’ campaign in a local mall at Clifton on Saturday to educate both vendors and customers about the use and benefits of digital payment solutions, promoting a shift towards a cashless economy, a statement said.

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

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

He observed that a staggering 62 per cent growth in the number of transactions through mobile and internet banking has been witnessed. Raast has processed over 892 million transactions amounting to Rs20 trillion since its launch. The deputy governor also expressed that the digital transactions grew by 35 percent in FY24, with volume increasing from Rs.4.7 billion to Rs.6.4 billion, and their value reaching Rs547 trillion.

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, the SBP is showing people that going cashless is easy, secure, and empowering, the statement read.