KARACHI: The State Bank of Pakistan (SBP) has made it mandatory for all petrol pumps across the country to introduce the Raast QR code digital payment system by January 31, 2027, in a major step towards promoting a cashless economy and expanding digital financial services nationwide.
According to the central bank’s latest directive, every petrol pump, regardless of size or location, will be required to provide customers with the Raast QR code payment facility. The initiative is designed to reduce cash transactions in the petroleum sector while encouraging the use of secure and convenient digital payment methods.
As part of the policy, the SBP has also introduced concessions on card transaction charges to encourage both fuel station owners and consumers to adopt electronic payments. The Merchant Discount Rate (MDR) for card payments on petroleum products has been capped at Rs1 per litre, while the interchange fee has been limited to a maximum of 20 paisa per litre.
The discounted fee structure will remain effective until January 31, 2027, and will apply to all Pakistani bank-issued debit and credit cards. Officials believe the reduced charges will remove one of the biggest barriers preventing petrol pump operators from accepting digital payments.
The SBP has instructed all commercial banks, microfinance banks, and digital wallet service providers to work closely with petroleum dealers to ensure Raast QR code facilities are fully operational before the deadline. The move is expected to significantly expand Pakistan’s digital payment infrastructure.
Pakistan currently has more than 15,000 operational petrol pumps, many of which are located in rural and remote areas where point-of-sale (POS) machines have traditionally been unavailable. The new policy is expected to improve financial inclusion by extending digital payment services beyond major urban centres.
Chairman of the Pakistan Petroleum Dealers Association, Malik Khuda Bakhsh, welcomed the decision, saying dealers previously paid nearly 0.8 percent, or approximately Rs2.40 per litre, in card transaction charges. The high cost discouraged many retailers from accepting card payments.
Financial experts believe the nationwide rollout of Raast QR payments will increase transparency, improve transaction security, reduce cash handling risks, and accelerate Pakistan’s transition toward a modern digital economy. The initiative is also expected to provide greater convenience for millions of motorists while supporting the government's broader financial inclusion strategy.
