Business Recorder
KARACHI: The State Bank of Pakistan (SBP) had launched a nationwide “go cashless” campaign during Eid-ul-Azha 2026 to promote the acceptance of digital payments in 123 cattle markets across the country. During the campaign, over 480,000 transactions valuing over PKR 34 billion were conducted using digital channels and instruments. Building on the success of similar initiatives undertaken in 2024 and 2025, the campaign was significantly expanded in 2026, with coverage increasing from 54 cattle markets in 2025 to 123 markets across Pakistan. Under the Go Cashless campaign, 22 participating banks established dedicated camps and kiosks in the assigned cattle markets to facilitate seamless digital transactions for buyers and sellers. READ ALSO: Eid-ul-Azha 2026: SBP says Go Cashless campaign saw Rs34bn in digital transactions These banks onboarded cattle sellers, transporters and allied service providers onto digital channels through real-time biometric verification conducted within the markets and provided them with QR codes to enable the receipt of digital payments. In addition, Mobile Banking Vans were deployed in selected cattle markets, equipped with ATMs, cash counters and Cash Deposit Machines (CDMs) to provide on-site banking services. The availability of cash counters and CDMs enabled merchants to conveniently deposit surplus cash directly into the banking system, thereby reducing the circulation of physical currency and supporting a more digitized payments environment. Teams from the SBP were also deployed in these markets, on round the clock basis, to facilitate the banks and their staff and resolve any issues. To facilitate cattle merchants and support high value transactions, SBP introduced temporary enhancements to transaction limits from May 14, 2026, to June 5, 2026. Further, the vSBP also led an extensive nationwide awareness and outreach drive for the campaign, encompassing television, radio, print, and social media platforms, alongside banks’ awareness activities. The SBP and industry efforts resulted in a significant increase in both the volume and value of digital transactions. Compared to 2025, the number of transactions recorded under the campaign increased more than sevenfold, rising from approximately 65,000 to 481,000 transactions, while the value of transactions surged from PKR 4.6 billion to PKR 34 billion in 2026. Around 12,500 new accounts for cattle farmers and allied service providers were opened during the activity. This growth reflects increasing public confidence in digital payment channels and demonstrates the effectiveness of the SBP’s efforts to digitize traditionally cash-intensive sectors of the economy. The success of the initiative has strengthened trust in digital financial services and laid a strong foundation for the sustained adoption of secure, efficient, and inclusive digital payment solutions in seasonal and high-volume markets across Pakistan. Copyright Business Recorder, 2026
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