CDA Pushes for Cashless Economy
A significant move towards the redesigning of Islamabad into a fully digital city has received the approval of the Capital Development Authority (CDA). During a meeting conducted by the CDA Member Administration and Estate, led by Talat Mehmood, QR codes were resolved to be introduced as compulsory for all payments in businesses and services within the capital.
Scope of Mandatory QR Codes
The project encompasses all sectors of the Islamabad economy, including retail and wholesale markets, shopping malls, restaurants, hospitals, pharmacies, laboratories, public and private offices, as well as taxi services. All businesses of all sizes will need to put QR codes in prominence, to enable digital transactions.
Integration with Raast Platform
Another key focus of the decision is the collaboration between the banking industry and merchants through the State Bank’s payment system, Raast. This integration will facilitate the issuance of QR codes and ensure that both businesses and customers experience safe and efficient cashless payments. Authorities ensured that all payments related to CDA would also be digitalized, which eradicates the cash transactions within the authority itself.
Awareness and Implementation
To facilitate the shift, CDA will launch a comprehensive publicity campaign to encourage citizens to adopt a cashless payment system. Policy implementation will be supervised by a steering committee that includes the CDA and ICT Administration, as well as officials from the State Bank and commercial banks, to ensure consistency throughout the city.
Transparency and Efficiency
As stated by CDA Member Administration and Estate Talat Mehmood, payment in QR code will be mandatory, so this new system will greatly enhance transparency, speed, and convenience in monetary transactions. He stated that the CDA has already implemented paperless systems in its offices and is determined to make Islamabad the country’s first fully cashless city.
Conclusion
The CDA’s move to make payments mandatory using QR codes is a significant step on Pakistan’s digitalization journey. Islamabad will become a role model in being a smart city where efficiency, transparency, and ease of doing business are highly valued by promoting cashless transactions.
