QR code payments to become mandatory in Islamabad: CDA

CDA to issue formal notice for QR code adoption and launch public awareness campaign
An undated image. — Shutterstock
An undated image. — Shutterstock

In an effort to encourage a cashless economy, the Capital Development Authority (CDA) has chosen to implement a mandatory QR code system throughout Islamabad.

The CDA Member Administration and Estate Talat Mehmood, presided over the meeting where this decision was made.

The plan is in line with the prime minister's goal of making Islamabad a digital city of the future.

Additionally, the shift to digital payments will increase financial transaction speed and ease while also bringing transparency, claims Talat Mehmood.

In Islamabad, the CDA intends to switch to digital payments via QR codes for all transactions, including those in restaurants, shopping centres, and wholesale and retail establishments.

Soon, a formal notice will be sent out requiring QR codes for all companies to encourage the adoption of cashless payment methods, and a massive public awareness campaign will also be started.

With the "Raast" payment platform, an integrated interface between the banking industry and retailers will be created.

In order to achieve the objective of a cashless economy, Talat Mehmood underlined the significance of digital payments.

In addition to attending the meeting, CDA Member Finance Tahir Naeem emphasised the importance of cooperation between the CDA, State Bank, and commercial banks in carrying out this project.

This development is a major step in the direction of Islamabad's digital economy, and it is anticipated that the CDA's work will improve the city's financial transactions.