All govt-to-person payments to go digital
ISLAMABAD: The government has set an ambitious target of making all government-to-person (G2P) payments fully digital and eliminating the use of physical cheques as part of its drive towards a cashless economy, Minister of State for Finance Bilal Azhar Kayani said. This he stated at the launch of Z-Wallet, a new initiative through which Zong has partnered with Zindigi, powered by JS Bank, to…
The Pakistani government aims to transition all government-to-person (G2P) payments to a digital format, effectively eliminating the use of physical cheques, as part of its efforts to establish a cashless economy. This ambitious goal was outlined by Minister of State for Finance Bilal Azhar Kayani during the launch of Z-Wallet, a digital financial services initiative by telecommunications giant Zong.
The new service is integrated into My Zong App (MZA), a platform with over 22 million active users, allowing customers to access essential banking services without needing to download a separate banking app. Z-Wallet, powered by Zindigi's Banking-as-a-Service (BaaS) infrastructure, provides a range of services including interbank fund transfers, utility and internet bill payments, and mobile top-ups.
With the Prime Minister-led committee setting targets for merchant adoption, digital banking users, and fully digitized government payments, Z-Wallet represents a significant step in Zong's transformation into a broader technology services enterprise. The government has also made substantial progress in digitizing various payment systems, with G2P payments increasing from 9% to 76% and self-accounting entities rising from 5% to 75%.
In the Benazir Income Support Programme (BISP), all beneficiaries now receive digital wallets that function like bank accounts, enabling them to pay utility bills, transfer funds, and withdraw cash. This move aims to eliminate the previous system where beneficiaries had to visit agents to withdraw their payments, often facing additional costs and deductions.
The ultimate goal is to ensure that all G2P payments are made digitally, without issuing cheques. Information Minister Attaullah Tarar emphasized the importance of Pakistan's digital transformation in providing greater access, opportunity, and convenience for its citizens. The launch of Z-Wallet exemplifies the potential of telecommunications and financial technology to collaborate and expand digital financial services, supporting the vision of a "Digital Nation Pakistan."
Written by urgent.news from Business Recorder's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
