SBP to launch micropayment gateway

KARACHI: Allowing instant transfer of funds, the State Bank of Pakistan (SBP) has announced to launch micropayment gateway (MPG) in the next two months.

invest with imarat

Islamabad’s emerging city centre

Learn More

“The SBP is now in the final stages of going live with the first use case, i.e. bulk transfers including government-to-person (G2P) transfers, tentatively by the end of (December) 2020,” it was announced in a report issued by SBP.

The initiative will accommodate governmental and non-governmental players including banks, businesses, and consumers to make seamless transactions.

It is aimed to digitize payments collected through the public and private sector, including salaries and pensions.

 

For news and blogs, visit Graana.com.

Maham Tahir

Recent Posts

Exploring Kalabagh: The Historic City in Mianwali District

Kalabagh, a small yet historically significant town in Pakistan’s Punjab province, is located within the…

21 hours ago

Nazimabad Number 2: A Well-Known Residential Area in Karachi

Nazimabad Number 2 is a well-known neighbourhood in Karachi, Pakistan, renowned for its vibrant community,…

2 days ago

A Guide to Quetta Town in Karachi

Quetta Town is a residential neighbourhood located in the vibrant city of Karachi, Pakistan. Known…

3 days ago

Akbar Chowk Lahore: A Focal Point of Connectivity

Akbar Chowk in Lahore stands as one of the city’s most critical intersections, serving as…

4 days ago

A Guide to Khuda Baksh Colony Lahore

Khuda Baksh Colony, located near Bhatta Chowk in Lahore, is a rapidly developing residential area…

5 days ago

Gol Market Karachi: A Vibrant Commercial Hub

Gol Market in Karachi is one of the city's most iconic and bustling commercial centres.…

2 weeks ago