KARACHI: Digital transactions during Eidul Azha jumped sevenfold compared to 2025, while their value increased about eightfold.

Digital banking has been rapidly replacing conventional payment methods. According to the second quarterly report of the SBP for FY26, 34 billion retail transactions were performed, of which 92 per cent were conducted through digital channels.

The SBP had launched a nationwide Go Cashless campaign during Eidul Azha 2026 to promote the acceptance of digital payments in 123 cattle markets across the country.

“During the campaign, over 480,000 transactions valuing over Rs34bn were conducted using digital channels and instruments,” said the SBP on Friday.

“Compared to 2025, the number of transactions recorded under the campaign increased more than sevenfold, rising from approximately 65,000 to 481,000 transactions, while the value of transactions surged from Rs4.6bn to Rs34bn in 2026,” said the SBP, adding that around 12,500 new accounts for cattle farmers and allied service providers were opened during the activity.

Eidul Azha sees transactions worth Rs34bn

Building on the success of similar initiatives undertaken in 2024 and 2025, the campaign was significantly expanded in 2026, with coverage increasing from 54 cattle markets in 2025 to 123 markets across Pakistan. Under the Go Cashless campaign, 22 participating banks established dedicated camps and kiosks in the assigned cattle markets to facilitate seamless digital transactions for buyers and sellers.

These banks onboarded cattle sellers, transporters and allied service providers onto digital channels through real-time biometric verification conducted within the markets and provided them with QR codes to enable the receipt of digital payments.

In addition, Mobile Banking Vans were deployed in selected cattle markets, equipped with ATMs, cash counters and Cash Deposit Machines (CDMs) to provide on-site banking services. The availability of cash counters and CDMs enabled merchants to conveniently deposit surplus cash directly into the banking system, reducing the circulation of physical currency and supporting a more digitised payments environment.

Teams from the State Bank were also deployed in these markets on a round-the-clock basis to facilitate banks and their staff and resolve any issues. To facilitate cattle merchants and support high-value transactions, SBP introduced temporary enhancements to transaction limits from May 14, 2026, to June 5, 2026. Further, SBP also led an extensive nationwide awareness and outreach drive for the campaign, encompassing television, radio, print and social media platforms, alongside banks’ awareness activities.

“This growth reflects increasing public confidence in digital payment channels and demonstrates the effectiveness of SBP’s efforts to digitise traditionally cash-intensive sectors of the economy,” said the SBP.

The SBP’s quarterly report earlier said the number of retail transactions increased by 8 per cent from the previous quarter, while their value rose by 7 per cent, reaching Rs167 trillion. The number of payments through digital channels reached 3.1 billion, amounting to Rs64 trillion, reflecting the growing adoption of digital payment methods across the economy.

Published in Dawn, June 6th, 2026