ISLAMABAD: Mobilink Bank, in collaboration with JazzCash, has inaugurated the Chaklala Scheme-III Cashless Bazaar in Rawalpindi, bringing digital payment solutions to approximately 900 shops and carts. The initiative supports Pakistan’s transition toward a cashless economy, aligned with the State Bank of Pakistan’s efforts to expand digital financial inclusion and modernize everyday commerce.
The project introduces Raast-enabled QR code payments across the marketplace, enabling merchants to receive instant and secure transactions directly into their mobile wallets or bank accounts. By digitizing high-frequency retail transactions, the initiative aims to simplify payments, reduce reliance on cash, and integrate small businesses into the formal financial system.
The inauguration ceremony was attended by Brigadier Syed Ali Anjum, Station Commander Rawalpindi, and Rizwan Khaleel Shamsi, Joint Director at the State Bank of Pakistan. Senior leadership from Mobilink Bank and JazzCash, along with local merchants and community members, also participated in the event.
Raast-enabled payments for seamless transactions
A central feature of the initiative is the deployment of the Raast digital payment system. The QR-based solution allows customers to make real-time payments using mobile wallets or banking applications, offering a faster and more secure checkout experience while minimizing the risks associated with handling physical cash.
In addition to payment solutions, Mobilink Bank plans to open Business Plus accounts for participating retailers and provide access to a range of financial services, including SME financing, health and fire insurance, and solar and electric vehicle (EV) financing. These services are intended to enhance financial resilience and support the growth of small and medium-sized enterprises.
Supporting financial inclusion and formalization
Officials from both organizations emphasized that digitizing local bazaars is essential for expanding financial inclusion in Pakistan. By enabling merchants to accept digital payments, the initiative helps integrate informal businesses into the formal economy, improving access to credit and other financial services.
The Chaklala Scheme-III Cashless Bazaar is expected to serve as a scalable model for similar initiatives across the country. By combining government support, digital infrastructure, and on-ground implementation, the project demonstrates how localized interventions can contribute to national economic transformation.
A step toward Pakistan’s cashless future
The collaboration between Mobilink Bank and JazzCash reflects broader efforts to accelerate Pakistan’s digital economy and promote secure, efficient payment systems. As digital adoption continues to grow, initiatives like this are anticipated to enhance transparency, improve economic documentation, and create new opportunities for businesses and consumers alike.
Today's E-Paper