The State Bank of Pakistan (SBP) is getting ready to introduce an easy way to pay for sacrificial animals during Eid-ul-Azha. They’re going to use QR codes through a system called Raast.
Ahmed Sumair, who works at SBP, talked about this at a conference called ‘Mobile Commerce 2024’. He said they’re working with 25 banks and picking 50 big cattle markets to set up QR code payments. This will make it easier for people to pay for their animals.
He explained that this project is important for farmers and will help more people use digital banking. It will also help banks because they might get to handle around Rs 550-600 billion in cattle purchases during Eid.
They’ve already found markets in 15 cities, including Karachi, Lahore, and Islamabad. In Karachi alone, they’re going to cover six cattle markets this Eid-ul Azha.
