Lahore: The State Bank of Pakistan (SBP) has stepped up efforts to encourage digital payments at cattle markets in Lahore as part of its “Go Cashless” campaign ahead of Eid-ul-Azha 2026. According to Beyond Time News, the initiative aims to reduce cash usage and promote safer, faster, and more transparent transactions.
The campaign was carried out by the State Bank of Pakistan–Banking Services Corporation (SBP-BSC) Lahore in collaboration with the Punjab Cattle Market Management and Development Company (PCMMDC) at Shahpur Kanjran Cattle Market.
Focus on Digital Payment Awareness
SBP teams interacted directly with livestock traders, buyers, food vendors, transporters, and other market participants. They explained the benefits of using digital payment systems instead of cash-based transactions.
Officials encouraged participants to adopt Raast-enabled QR code payments, mobile banking apps, and branchless banking wallets. These systems, they said, offer greater security and convenience, especially during high-traffic seasonal markets.
According to Beyond Time News, the campaign is part of a broader effort to promote digital financial inclusion across Pakistan.
On-Site Support for Traders and Buyers
To make the transition easier, SBP and partner banks set up facilitation desks inside the cattle market. These counters helped visitors open new bank accounts, activate mobile banking services, and register QR codes for digital payments.
Bank representatives also guided vendors on how to receive payments digitally, reducing dependence on physical cash handling.
At the same time, awareness camps were arranged to educate market participants about the benefits and safety of cashless transactions.
Push Toward a Cashless Economy
The initiative reflects SBP’s long-term goal of building a more digitally enabled financial system in Pakistan. By encouraging electronic payments in busy cattle markets, the regulator hopes to reduce risks such as theft, counterfeit currency, and cash handling errors.
In addition, digital transactions can improve record-keeping and make business operations more efficient for small traders and seasonal vendors.
According to Beyond Time News, the program also supports wider national efforts to strengthen financial inclusion.
Read more:SBP Announces Three-Day Eid ul Adha 2026 Holidays Across Pakistan
Importance of Eid Season Markets
Eid-ul-Azha is one of the busiest commercial periods in Pakistan, especially in livestock markets where millions of animals are bought and sold.
Because of the high volume of cash transactions, these markets are often considered ideal for introducing digital payment solutions. SBP believes that increased awareness during this period can help accelerate long-term adoption of cashless systems.
Conclusion
The SBP’s “Go Cashless” campaign in Lahore cattle markets highlights Pakistan’s ongoing push toward digital financial transformation. According to Beyond Time News, the initiative aims to make transactions safer, faster, and more convenient for both buyers and sellers ahead of Eid-ul-Azha 2026.
With continued awareness and support from financial institutions, authorities hope to gradually reduce cash dependency and promote a more modern payment ecosystem.
FAQs
What is the SBP “Go Cashless” campaign?
It is an initiative to promote digital payments and reduce cash usage in markets.
Where was the campaign launched?
It was conducted at Shahpur Kanjran Cattle Market in Lahore.
What digital payment methods are being promoted?
SBP is promoting Raast QR codes, mobile banking apps, and branchless banking wallets.
Why are cattle markets targeted?
Because they involve high-volume cash transactions during Eid season.
What is the goal of this initiative?
The goal is to improve financial inclusion and promote a safer, cashless economy.
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#SBP #GoCashless #DigitalPayments #EidulAzha2026 #Lahore #PakistanEconomy #Raast #FinancialInclusion #CattleMarket #BeyondTimeNews
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