Massive surge in digital payments during Eid-ul-Azha 2026: SBP

The State Bank of Pakistan rolled out a nationwide “Go Cashless” drive during Eid-ul-Azha 2026 to encourage the use of digital payments in 123 cattle markets across Pakistan. According to details, the campaign recorded more than 480,000 digital transactions worth over PKR 34 billion, reflecting a sharp rise in cashless activity compared to previous years. The central bank expanded the programme significantly in 2026, increasing its reach from 54 cattle markets in 2025 to 123 markets nationwide. To support smooth adoption, 22 banks set up dedicated facilitation camps and kiosks inside these markets, enabling buyers and sellers to carry out real-time digital transactions. Under the initiative, sellers, transporters, and related service providers were onboarded onto digital payment systems through biometric verification conducted on-site, while QR codes were issued to facilitate instant payments. In selected markets, mobile banking vans equipped with ATMs, cash handling desks, and cash deposit machines were deployed to provide on-the-spot banking services. These facilities also allowed merchants to deposit surplus cash directly into the banking system, helping reduce reliance on physical currency. SBP teams remained present round-the-clock at various locations to assist banks and resolve operational issues. Temporary increases in transaction limits were also introduced from May 14 to June 5, 2026, to support higher-value payments during the peak trading period. A nationwide awareness campaign through television, radio, print, and digital platforms complemented the effort, alongside outreach activities by commercial banks. As a result, digital transactions surged significantly compared to 2025, with volumes rising more than seven times—from around 65,000 to 481,000—while total value jumped from PKR 4.6 billion to PKR 34 billion. Around 12,500 new accounts were also opened for livestock traders and service providers during the drive. Officials said the strong growth refl