Govt to amend laws to enforce digital payment solutions

Govt to amend laws to enforce digital payment solutions

The government is drafting a comprehensive legal package to amend existing laws and empower local governments and provincial authorities to enforce the availability of digital payment solutions at business and retail outlets as part of its push towards a cashless economy. According to sources in the Ministry of Finance, the draft legal package is being developed to amend the Payment Systems and Electronic Fund Transfers Act, 2007, to make it man…

Govt Plans Legal Reforms to Enforce Digital Payment Solutions in Pakistan

Copyright protected content copied from PhoneWorld website. The government is preparing a major legal package to support its vision of a cashless economy. It plans to amend several existing laws to make digital payment solutions mandatory at all business and retail outlets in Pakistan. According to sources from the Ministry of Finance, the new draft will update the Payment Systems and Electronic Fund Transfers Act, 2007. Once approved, every bus…