Digital Transactions Surge in Cattle Markets During Eid-ul-Adha

The State Bank of Pakistan (SBP) announced on Wednesday that during Eid-ul-Adha in early June, cattle markets saw a significant increase in online payments. A total of 64,553 digital transactions, amounting to Rs4.656 billion, were processed for the purchase of sacrificial animals.

This represents a substantial rise in both the number and value of transactions compared to Eid-ul-Adha in 2024. During that period, buyers and sellers completed approximately 13,000 digital transactions, totaling Rs560 million, according to a previous statement from the central bank.

The SBP attributes this surge to its ‘Go Cashless’ campaign, which was implemented in cattle markets in 2025.

“The campaign was successfully carried out in 54 major cattle markets across Pakistan, thanks to the involvement of 24 partner banks,” the SBP stated on Wednesday.

To facilitate the ‘Go Cashless’ initiative, the SBP temporarily lifted daily transaction limits and raised the monthly limit to Rs5,000,000 for Branchless Banking Level-1 Accounts, Asaan Account/Asaan Digital Account, and Merchant Accounts between May 19 and June 15, 2025.

The ‘Go Cashless’ campaign, launched prior to Eid-ul-Adha (May 20 to June 6), aimed to encourage the use of Digital Financial Services (DFS) and minimize the reliance on cash transactions within urban cattle markets.

“Buyers and sellers in the cattle markets greatly appreciated this campaign, as it reduced their dependence on physical currency,” the central bank noted.

SBP, along with the Banking Services Corporation (SBP BSC), held an awards ceremony in Karachi on Wednesday to recognize banks that excelled in their contributions to the ‘Go Cashless in Cattle Markets Campaign 2025’. SBP field offices also organized similar events in their respective regions to acknowledge the regional impact of the campaign.

Digital payment systems are essential for modern economies, promoting transparency, lowering the risk of fraud, and enabling secure, accessible, and inclusive financial services.

“Initiatives such as ‘Go Cashless’ play a vital role in fostering trust and encouraging the broader adoption of digital platforms among various users, including livestock buyers and sellers,” the central bank concluded.