ISLAMABAD: With the establishment of digital payment systems, the chances of monetary fraud and pickpocketing have been reduced at the cattle markets, and it is expected that banks too would establish their card scanning mechanism to reduce cash handling in crowded cattle markets.

The two main digital wallet companies of the country — JazzCash and easypaisa — have established QR code camps in several cattle markets in the country to reduce cash carrying by both the buyers and the sellers.

The move will make payments during sale and purchase of sacrificial animals easier.

Both easypaisa and Jazzcash have deployed QR code payment system at several cattle markets across Pakistan, allowing the buyers to move around the cattle markets with their mobile phones and limited amount of cash only.

“The average person carry between Rs30,000 to Rs80,000 while shopping for the animals in the markets, and for the purchase of cattle we divide cash among the group members, so that if one person is hit by a pickpocket not all of it is lost,” said Azhar Abbas, who visits the cattle market several times, to buy animals for the extended family.

However, he expressed satisfaction over the availability of digital payment modes, allowing them to focus more on the purchases.

The move by both digital wallets was also part of the national policy and State Bank of Pakistan’s (SBP) ‘Go Cashless’ campaign.

To send money, users can tap the scan code option on the home screen, scan the QR code, and enter the amount to complete the transaction, and the receiver of payments gets the settled amount in their accounts just by the tap.

Not only in Islamabad, the QR code cashless payment services are available at cattle markets in several cities like Karachi, Lahore, Multan, etc., that was also beneficial for the sellers who have to manage millions of rupees in cash.

As Eidul Azha drives substantial economic activity, with an estimated impact of associated activities amounting to Rs839.2 billion in 2024, the sellers have been saved from the hassle of carrying cash to distant locations back home.

Jahanzeb Khan, President & CEO, easypaisa digital bank, said that easypaisa is the country’s first digital bank, and technology has helped not to carry large amounts of cash to cattle markets to purchase sacrificial animals.

On the occasion of Eidul Fitr, easypaisa had also launched an innovative product ‘eidipaisa’, that allowed users to conveniently send digital eidi to their loved ones and spread the joy of Eid.

JazzCash Head of Communication Khayyam Siddiqi said that QR-based payments in 27 cattle markets across 12 cities will help reduce cash-based transactions with secure, efficient digital payments, ensuring safe and secure transactions.

“This will also encourage the rural population, including the farmers, to adopt the banking services of digital wallets and integrate cattle farmers — merchants — buyers into the digital economy,” he added.

Published in Dawn, June 5th, 2025