Islamabad — Pakistan has launched a new effort to expand access to digital financial services, with Karandaaz Pakistan hosting the final pitch round of the Offline Payments Innovation Challenge. The initiative seeks to address one of the country’s most persistent barriers to adoption: limited or unstable internet connectivity that prevents millions of people, particularly in rural and disaster‑affected areas, from using digital payments.
The programme is designed to identify secure and scalable solutions that can operate through Raast, Pakistan’s instant payment system, even in low‑connectivity environments. Organizers say the challenge represents a shift from recognizing the problem to developing practical technologies that can function reliably where networks are weak or unavailable.
Startups, fintech firms, and technology innovators submitted proposals, with several shortlisted for the final round. Over two days, participants presented their solutions to a six‑member panel that included representatives from the State Bank of Pakistan, the Asian Development Bank, the Foreign, Commonwealth & Development Office, JoPacc Jordan, LUMS, and Karandaaz Pakistan.
Entries were evaluated on technical strength, security safeguards, regulatory alignment, scalability, and long‑term sustainability. The most promising solutions will receive grant support, technical guidance, and opportunities for pilot implementation.
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Karandaaz Pakistan Chief Executive Officer Waqas ul Hasan said the challenge reflects the national vision for a “Cashless Pakistan” under the broader Digital Pakistan agenda. He noted that large parts of the country operate in low‑ or no‑connectivity environments, making locally relevant innovation essential for expanding access to digital payments.
Organizers say the initiative lays the groundwork for bridging the connectivity gap in Pakistan’s financial ecosystem. By encouraging innovation that works in real‑world conditions, the programme aims to accelerate adoption of affordable and easy‑to‑use payment solutions across the country.
