SBP to launch micropayment gateway
KARACHI: Allowing instant transfer of funds, the State Bank of Pakistan (SBP) has announced to launch micropayment gateway (MPG) in the next two months.
“The SBP is now in the final stages of going live with the first use case, i.e. bulk transfers including government-to-person (G2P) transfers, tentatively by the end of (December) 2020,” it was announced in a report issued by SBP.
The initiative will accommodate governmental and non-governmental players including banks, businesses, and consumers to make seamless transactions.
It is aimed to digitize payments collected through the public and private sector, including salaries and pensions.
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