SBP Promotes Digital Payments in Cattle Markets

Islamabad, May 24 — The State Bank of Pakistan (SBP), partnering with 22 major commercial banks, has launched a nationwide campaign to drive digital payment adoption in cattle markets ahead of Eidul Adha, running from May 15 to June 6, 2025. By temporarily boosting transaction limits, the initiative targets 54 key markets across 21 districts, urging buyers and sellers to embrace digital methods for sacrificial animal purchases and services like water, feed, and parking.

Building on last year’s success—4,000 merchants onboarded, 13,000 transactions worth Rs560 million—SBP aims for a bold target of 100,000 digital transactions. On-ground teams and digital channels will raise awareness, onboard merchants, and guide users on mobile wallets, QR codes, and banking apps, reducing cash reliance and fostering an inclusive financial ecosystem. “Working closely with banks, SBP is enabling secure, convenient payments in cattle markets nationwide,” the bank declared, aligning with a digital economy push.

This effort supports SBP’s strategic goals to expand digital payments, promising transparency and convenience in livestock trade. Web context highlights Pakistan’s low digital payment penetration (e.g., 5% of transactions, web ID: 0), while posts found on X show mixed views—some applaud the convenience, others cite network issues in rural areas. Critically, the narrative of “inclusivity” may overlook infrastructure gaps—web sources note connectivity challenges, and X sentiment suggests skepticism about adoption rates, hinting at potential hurdles in rural markets.