The world is moving towards cashless transactions. This is facilitating corporates, governments, and consumers by making fast, trackable transactions while expanding facilities. This together is helping firms and economies grow. Pakistan is also embracing the tech revolution and initiatives like Raast are helping firms making payments digitally. Therefore, this webinar was arranged to enhance our knowledge about Cashless Economy and to the kind of literacy we need to have to help companies go cashless and to grow in such environment

Speaking to the webinar, Nadeem Hussain (Founder and Coach, Planet N and Chairman, Pakistan Fintech Network) and Sardar Abubakar (SEVP, Mobilink Microfinance Bank) informed participants that it is important to expand the coverage of digital payment systems to grass-root level to document the economy and achieve greater financial inclusion. Companies need to create more value in their products and make it easy to use for the common people which will help expanding the coverage and thus transition to cashless economy. Holistic approach is needed to change the mindset as cash is still the most popular mean of payment specially for small venders and day-to-day payments.

In Q&A session, members asked questions on what is needed to be done to expand the coverage of digital transaction and make it more common, revisions required in regulatory framework to make digital payments more common and measures to be taken to enhance the trust of people in it. The webinar, attended by more than 55 participants, ended with a note of thanks to OICCI.