SBP Sets New Digital Payment Limits for Fuel Stations

The State Bank of Pakistan (SBP) has made a significant move to promote cashless payments across the nation by setting new limits on digital payment processing fees for fuel stations. This initiative aims to lower transaction costs and encourage more petrol pumps to adopt electronic payment methods.

According to the fresh guidelines, the merchant discount rate (MDR) for card transactions related to fuel purchases will now be capped at Rs. 1 per litre. Additionally, there are also restrictions on charges for Raast QR and other QR payment methods. These steps are expected to make it easier for consumers to pay digitally, which aligns with the government’s push for a more cashless economy.

This change is not just beneficial for consumers but also helps fuel station owners by reducing the financial burden associated with processing payments. With the rising popularity of digital wallets and contactless payments, this move by the SBP is a timely boost for both the industry and the average customer.