KARACHI: Pakistan’s central bank said on Friday that digital transactions under its nationwide “Go Cashless” Eid Al-Adha campaign surged sevenfold across 123 cattle markets last month, recording a total number of 480,000 transactions worth more than Rs34 billion ($122.3 million).
The State Bank of Pakistan (SBP) launched the Go Cashless initiative in 2024 and 2025 to reduce reliance on cash and promote digital payments across cattle markets. The initiative was extended from 54 cattle markets in 2025 to 123 across Pakistan.
Under the Go Cashless campaign, 22 participating banks established dedicated camps and kiosks in designated cattle markets to facilitate seamless digital transactions for buyers and sellers, the SBP said. Around 12,500 new digital accounts for cattle farmers and other service providers were opened during the campaign, it added.
“During the campaign, over 480,000 transactions valuing over Rs34 billion [$122 million] were conducted using digital channels and instruments,” the SBP said in a press release.
“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 Rs4.6 billion to Rs34 billion in 2026.”
The bank said the surge underscored the success of its efforts to digitize cash-heavy sectors and boost trust in digital financial services, paving the way for the wider adoption of digital payments in seasonal and high-volume markets.
Mobile banking vans, ATMs, and cash deposit machines were also deployed at designated cattle markets in May after the 2026 initiative was launched.
Pakistan remains heavily cash-dependent, enabling tax evasion and limiting financial transparency. Financial analysts say enabling digital payments can boost revenues, reduce corruption, and improve safety for customers and traders.
