SBP launches campaign to promote digital payments in cattle markets

KARACHI: The State Bank of Pakistan (SBP), in collaboration with 22 leading commercial banks, is launching a nationwide campaign to promote the digitalisation of payments in cattle markets, a statement said on Friday.

Running from May 15 to June 6, the campaign aims to encourage buyers and sellers to use digital payment methods for purchasing sacrificial animals and availing related services such as food, water and parking.

“This initiative is part of the SBP’s broader strategic goal to expand digital payments across the country. Building on the success of last year’s campaign -- where over 4,000 merchants were on boarded and more than 13,000 digital transactions worth Rs560 million were recorded -- the 2025 campaign will cover 54 major cattle markets in 21 districts,” the SBP said. “The target for this year is to reach 100,000 digital transactions during the campaign period,” it added.

The response from people and merchants has been overwhelmingly positive, reinforcing the demand for cashless solutions even in traditional market settings, the SBP noted.Throughout the campaign, the transaction limits have been enhanced to facilitate high-value purchases. On-ground support teams and digital channels will be used to create awareness, onboard merchants and assist customers in adopting QR codes, mobile wallets and banking apps.