Improving payment card acceptance infrastructure in Pakistan

The PBA Consumer Sub Committee reviewed and discussed the SBP circular regarding, ‘Improving payment card acceptance infrastructure in Pakistan,’ (PSP&OD Circular Letter no 1, 2023), and was of the view that the Circular would have a detrimental impact on the push and investment into the payments ecosystem and digitization drive in Pakistan.

The Sub Committee had also deliberated on the feedback given by members on the draft circular in September 2022, and based on all observations, the PBA Consumer Sub Committee agreed that as per the points included in the SBP circular, the banks would potentially be moving from a digitally aspired economy to a more cash dominated economy.

Following the PBA EC’s concurrence on the amendments drafted by the PBA Consumer Sub Committee, PBA’s observations/recommendations have been sent to SBP for consideration.