The State Bank of Pakistan (SBP) plans to introduce a QR code payment system via Raast to facilitate the purchase of sacrificial animals during Eidul-Azha.
SBP Deputy Director Ahmed Sumair announced this at the 17th International Conference on Mobile Commerce 2024. “We are currently collaborating with 25 banks and have selected 50 major cattle markets to implement the QR code payment method to facilitate transactions,” he stated.
Sumair emphasized the project’s significance for cattle farmers and its potential to enhance financial inclusion through Raast. “This initiative aims to help individuals and merchants securely make transactions for sacrificial animals. It also offers banks an opportunity to tap into the Rs550-600 billion market for cattle purchases during the annual religious festival,” he explained.
The identified markets span all 15 cities with SBP field offices, including Karachi, Lahore, Islamabad, Rawalpindi, Faisalabad, and Hyderabad. “We are covering six cattle markets in Karachi alone for this Eidul-Azha,” Sumair added.
