Muhammad Luqman

In an effort to accelerate Pakistan’s transition toward a cashless economy, the Punjab Information Technology Board (PITB) has launched a suite of digital payment solutions aimed at helping public and private institutions digitize their financial transactions and collections. “PITB has developed a comprehensive strategy to boost digital payment adoption through its PayZen and e-Pay platforms,” said Faisal Yousaf, Chairman of PITB, in an interview with Wealth Pakistan.

He said PayZen, developed by PITB in partnership with financial infrastructure providers such as commercial banks and 1LINK, is already being used by a wide range of institutions across Punjab and beyond. “PayZen has emerged as a key initiative in promoting digital payments across the province,” he added. According to Yousaf, a PayZen mobile app is under development to make digital transactions more convenient for both citizens and institutions. The platform enables payments through multiple channels, including mobile banking, ATMs, and debit and credit cards.

“Over time, PayZen has evolved into a nationwide digital payments solution and is now being used by schools, housing societies, training institutes, and government departments,” he said. Institutions that wish to use the service register with PITB, which then creates a dedicated PayZen account and dashboard for each user. “Once a payment is made, PayZen automatically confirms it in real time, sending instant confirmation messages or emails to both the payer and the institution,” Yousaf explained.

He noted that PITB has signed multiple MoUs and implementation agreements to digitize recurring collections, such as school fees and membership dues, thereby improving transparency, efficiency, and financial inclusion across the province. Looking ahead, Yousaf said efforts are underway to integrate PayZen with municipal services, development authorities, and transport departments, enabling citizens to pay taxes, bills, and fees through a single, unified platform. On the technical side, PITB plans to strengthen PayZen’s linkages with banks and microfinance institutions through 1LINK and Raast, Pakistan’s instant payment system.

“We are also working to enable QR code-based and mobile wallet payments to reach unbanked and rural populations,” he added. Yousaf also highlighted the success of e-Pay Punjab, another major PITB initiative jointly developed with the Punjab Finance Department to facilitate person-to-government (P2G) payments. The platform currently allows payment of 94 different taxes and levies across provincial departments and continues to expand rapidly. The PITB’s digitalization efforts — in collaboration with the State Bank of Pakistan and other financial bodies — have drawn praise from the business community, which sees them as critical to modernizing Pakistan’s financial landscape.

“Promotion of digital payments not only moves the economy toward a cashless model but also helps document it,” said Kashif Anwar, former President of the Lahore Chamber of Commerce and Industry. “The undocumented economy has been responsible for a myriad of ills in Pakistan. Digital payments will streamline the daily operations of both businesses and government institutions.”

Credit: INP-WealthPk