To tighten digital safeguards and encourage financial transparency, the State Bank of Pakistan (SBP) has introduced updated procedures for cash-related operations through mobile wallet services such as JazzCash and easypaisa.
According to the latest policy shift, individuals looking to deposit or withdraw physical cash from registered outlets will now be required to complete biometric identity verification. Transactions conducted over the counter without this verification step will no longer be permitted.
This regulatory measure is designed to enhance the traceability of cash flows and curb rising incidents of digital fraud. However, SBP has assured the public that these rules are limited strictly to in-person cash dealings. Digital services—such as wallet-to-wallet transfers, in-app payments, and balance maintenance—will continue to operate without any disruption.
Officials emphasized that customer accounts remain secure and unaffected, and that the goal is to ensure safer financial practices without impacting the daily usability of digital wallets.
Notably, the move comes as digital payments in Pakistan see rapid adoption. From October to December 2024 alone, the country witnessed a 12% surge in retail digital transactions, a trend attributed to broader mobile access and growing public confidence in fintech solutions.
