SBP introduces digital cheques clearance system

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KARACHI: State Bank of Pakistan (SBP) on Wednesday introduced two new financial services including digital clearance of cheques and a unified QR code for payments.

Governor SBP, Dr. Reza Baqir unveiled the latest services of the central bank.

Speaking on the occasion, the Governor SBP was of the view that the new services will strengthen the digital payment system of the country and will benefit the public in numerous ways.

The digital cheque clearance service will allow the users to get their cheques cleared through digital banking services, reducing the clearance time substantially.

Similarly, the unified QR code for payments will allow financial transactions from any digital application rather than using different applications for payments.


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