ISLAMABAD – Pakistanis are making more than two-thirds of retail payments through digital channels, and authorities are moving toward stern regulations to avoid any financial irregularities. Mobile wallet companies have also committed to supporting users throughout the transition process.
Amid evolving landscape of digital payments, State Bank announced that biometric verification will become mandatory for all cash deposit and withdrawal transactions conducted through mobile wallet retail agents starting July 1, 2025.
The new regulation comes in response to rapid expansion of mobile financial services, with platforms Easypaisa and others seeing a surge in usage for everyday transactions. With millions of users now relying on these platforms, authorities say enhanced safeguards are essential to protect customers from fraud, identity theft, and unauthorized transactions.
Spokesperson of central bank pushed for improving safety and accuracy of retail-level transactions, saying it’ll help ensure that deposits and withdrawals are carried out only by verified individuals.
After this announcement, several rumors started circulating online, suggesting that user accounts would be blocked or frozen due to new requirement. Mobile wallet providers and SBP categorically denied these claims. It mentioned that no accounts will be blocked, and customers’ funds will remain safe.
It further mentioned biometric requirement applies only to over-the-counter cash transactions. Online transactions will continue without any changes. The biometric verification will only be required when making deposits or withdrawals through retail agents.
These agents are being equipped with biometric devices to facilitate the process. Users who have not yet registered their biometrics are encouraged to do so during their next visit to a retail location.
Authorities are urging users not to panic and to view this regulation as a positive development. Mobile wallet companies have also committed to supporting users throughout the transition process. SBP believes the introduction of biometric verification at the retail level will not only curb fraudulent activity but also foster greater trust in the country’s digital financial infrastructure.
As central bank promoted biometric verification in past to curb misuse of mobile financial services and enhance security, consumers are looking for more official updates regarding new rules.
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