Eid Digital Payments Surge Sevenfold Under SBP Cashless Drive

Pakistan’s digital payment push recorded a major breakthrough during Eidul Azha 2026, as transactions under the State Bank of Pakistan’s Go Cashless campaign rose more than sevenfold compared with last year. The campaign focused on cattle markets across the country, turning one of Pakistan’s most cash-heavy seasonal trading events into a large-scale test of digital finance.

According to the State Bank, more than 480,000 digital transactions were completed during the campaign, with their total value crossing Rs34 billion. In comparison, the 2025 campaign recorded around 65,000 transactions worth Rs4.6 billion, showing both a sharp rise in transaction volume and an even stronger increase in value.

The SBP expanded the initiative to 123 cattle markets in 2026, compared with 54 markets last year. The broader coverage allowed banks to reach a much larger number of buyers, cattle sellers, transporters and service providers, many of whom traditionally rely on cash because of limited banking access at temporary market locations.

In its statement, the central bank said the growth reflected rising public confidence in digital payment systems and the effectiveness of efforts to digitise sectors that have historically depended on physical currency. The SBP also noted that about 12,500 new accounts were opened for cattle farmers and allied service providers during the activity.

Twenty-two participating banks set up camps and kiosks in assigned markets to help sellers and buyers use digital payment tools. Merchants were onboarded through real-time biometric verification, while QR codes were provided so they could receive payments directly through banking and mobile channels.

The campaign also included mobile banking vans in selected markets, equipped with ATMs, cash counters and cash deposit machines. These facilities helped traders deposit surplus cash into the banking system, reducing the need to carry large amounts of money and supporting a more formal payment environment.

To support high-value cattle market transactions, the SBP temporarily raised transaction limits from May 14 to June 5. The central bank also ran a nationwide awareness drive through television, radio, newspapers and social media, while bank teams worked inside markets to resolve operational problems and guide users.

The development is important for Pakistan because digital payments can improve documentation, reduce cash-handling risks and support financial inclusion for small traders and rural sellers. If sustained beyond Eid, the shift could help bring more informal economic activity into regulated financial channels and strengthen the country’s broader digital economy.

The next challenge will be converting seasonal success into regular behaviour. Banks, regulators and merchants will have to maintain trust, improve user experience and expand acceptance points so that digital payments become a practical daily option, not only a campaign-driven Eid activity.