Mobilink Bank, in collaboration with JazzCash, has inaugurated the Chaklala Scheme-III Cashless Bazaar in Rawalpindi, bringing digital payment infrastructure to a marketplace covering 900 shops and carts in a move that the two institutions have framed as a direct contribution to the Prime Minister’s cashless economy vision, being led under the direction of the State Bank of Pakistan. The inauguration marks one of the more substantial single-market digital payment rollouts seen at the retail bazaar level in Pakistan, and is being positioned by both organisations as a scalable model that can be replicated across other commercial centres in the country.
The ceremony was attended by Brigadier Syed Ali Anjum, Station Commander Rawalpindi, who served as chief guest, alongside Rizwan Khaleel Shamsi, Joint Director at the State Bank of Pakistan, and senior leadership from both Mobilink Bank and JazzCash, as well as local merchants and community members. A central element of the initiative is the deployment of Raast-enabled QR codes across the bazaar, allowing merchants to accept instant, secure payments directly from mobile wallets and enabling customers to complete transactions with real-time fund transfers, removing the friction and security concerns associated with handling physical cash in a high-footfall commercial environment. Beyond payments, Mobilink Bank has committed to opening Business Plus accounts for participating retailers and offering a suite of additional financial products including health and fire insurance, small and medium enterprise loans, and solar and electric vehicle financing, embedding the bazaar’s merchants into a broader formal financial ecosystem rather than limiting the intervention to payment acceptance alone.
Haaris M. Chaudhary, President and Chief Executive Officer of Mobilink Bank, said the initiative reflects the institution’s belief that a cashless economy must take root where everyday commerce actually happens, describing local bazaars as the natural starting point for meaningful digital financial inclusion and noting that on-ground enablement through platforms like JazzCash makes transactions simpler while advancing inclusion at scale. Murtaza Ali, Chief Executive Officer of JazzCash, echoed that framing, describing bazaars as representing the highest concentration of daily transactions in Pakistan and pointing to the company’s nationwide network of over one million Raast-enabled QR merchants as the infrastructure underpinning the shift. He added that by bringing seamless digital payments into these spaces, JazzCash is helping merchants transition into a formal, connected financial system, improving everyday lives by making financial services more accessible, reliable, and inclusive for millions of citizens. The Chaklala Scheme-III initiative is being presented by both organisations as a blueprint for how targeted, localised digital payment interventions can aggregate into national-level transformation when combined with coherent government vision and sufficiently scaled digital infrastructure.
Follow the SPIN IDG WhatsApp Channel for updates across the Smart Pakistan Insights Network covering all of Pakistan’s technology ecosystem.
