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.

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“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.

 

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Maham Tahir

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