The State Bank of Pakistan (SBP) has made it mandatory for all petrol pumps across the country to offer Raast QR code-based digital payments by January 31, 2027, in a major push towards a cashless economy and wider adoption of digital financial services.
The directive applies to all fuel stations, regardless of size or location, requiring them to enable Raast QR payments within the specified deadline. The move is aimed at reducing cash transactions in Pakistan’s petroleum retail sector while improving the accessibility of secure digital payments.
To encourage card-based transactions, the central bank has also introduced a concessional fee structure for petroleum sales. Under the revised framework, the Merchant Discount Rate (MDR) has been capped at Rs. 1 per litre, while the interchange fee has been limited to a maximum of 20 paisa per litre. These reduced charges will remain effective until January 31, 2027, and will apply to all Pakistani bank-issued payment cards.
The SBP has directed commercial banks, microfinance banks, and digital wallet providers to work closely with petrol pump operators to ensure Raast QR facilities are installed and fully operational before the deadline.
Pakistan currently has more than 15,000 operational petrol pumps, with POS and digital payment facilities previously concentrated in major urban centers. The latest directive is expected to significantly expand digital payment infrastructure to fuel stations in smaller cities and remote areas, improving financial inclusion nationwide.
The decision has been welcomed by the Pakistan Petroleum Dealers Association (PPDA). Chairman Malik Khuda Bakhsh said petrol dealers had long been discouraged from accepting card payments because they were paying around 0.8% in transaction charges, equivalent to approximately Rs. 2.40 per litre. He said the reduced fee structure would make digital payments more affordable for dealers and encourage wider acceptance of cashless transactions.
The initiative also supports Pakistan’s broader digitalization strategy by promoting the use of Raast, the country’s instant payment system developed by the SBP, which enables secure, real-time transfers through QR codes, bank accounts, and mobile wallets.
Read More: Govt Announces Fresh Cut in Petrol, Diesel Prices in Pakistan