The global trend of promoting a cashless economy is considered to be an advantageous step for Pakistan, but it won’t really work and will keep facing barriers until fragile public trust is restored. The alarming rise of cybercrimes has badly shaken people’s trust in digital platforms.
Besides this, there is still low digital literacy, especially in rural areas, and the digital infrastructure outside big cities is very limited. Internet disruptions also make the situation worse.
The digital finance system looks ambitious and comes off as a lucky ride for some, but in reality, it needs a stronger support system. It is much more important to build public confidence in digital payment systems and also reduce taxes on these transactions right now instead of pushing for advancement without safety.
Sara Baloch
Absor
