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Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →Outbyte Driver Updater FREEFix the driver behind crashes, sound loss and screen glitchesFind Drivers →SECP Direction No. 24 of 2025 required specified SECP-licensed entities—not every business or organization in Pakistan—to implement and display digital payment options at their offices or branches and not refuse a customer who wanted to pay digitally. Its compliance deadline was October 31, 2025, and that date has passed. The available official sources do not establish whether SECP later extended the deadline or what compliance and enforcement outcomes followed.
Who the direction covered
SECP issued Direction No. 24 of 2025 on August 26, 2025, under the title “Adoption of Digital Payment Across Regulated Sectors of SECP.” Its recipients were SECP-licensed or regulated entities in specified sectors, not all companies, shops, or legal entities in Pakistan. SECP’s direction names:
- All insurers
- Non-Banking Finance Companies (NBFCs)
- Regulated persons under the Securities Act, 2015
- Regulated persons under the Futures Markets Act, 2016
- Modaraba Management Companies
- Pakistan Mercantile Exchange Limited
- EClear Services Limited
- Central Depository Company of Pakistan Limited
- National Clearing Company of Pakistan Limited
- Naymat Collateral Management Company Limited
What licensed entities were required to do
The direction set out three practical obligations for covered entities:
- Implement digital payment solutions, with particular emphasis on Raast QR codes, in their offices or branches.
- Display digital payment solutions at those locations so customers can see how to pay.
- Not refuse a person intending to make a digital payment. The direction states: “Not to refuse any person who intends to make payment digitally.”
It lists QR Code, POS, Soft POS, internet-based, and mobile-based payment mechanisms. Raast QR is singled out as an emphasis; the direction does not say that it is the only permitted method. It also does not set out comparative fees, settlement times, or service standards for the options.
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Deadline and current status
The direction and SECP’s August 26, 2025 announcement set October 31, 2025 as the compliance deadline. That original deadline has passed. The official sources cited here do not establish a subsequent extension, how many entities complied, or whether SECP took enforcement action or imposed a penalty specific to this direction. A past deadline alone does not establish universal compliance or enforcement.
Reporting integration to SECP
Direction No. 24 instructs entities to report to SECP upon integration, using [email protected]. This is the contact stated in the direction issued in August 2025. Because contact details can change, entities seeking to file now should verify the current address and procedure with SECP before sending a report.
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How payment providers fit into the picture
SECP’s 2025 direction creates obligations for its regulated entities. A separate State Bank of Pakistan circular dated October 15, 2021 addressed banks, microfinance banks, payment-system operators, and payment-service providers, instructing them to make digital-payment facilities available to institutional clients. The circular described options including online portals, interbank transfers, invoice presentment and payment, over-the-counter digital payments, and card payments through POS terminals, QR codes, mobile devices, ATMs, kiosks, or other enabled devices. It also called for access controls and transaction identifiers.
That earlier circular provides context for the payment-provider side; it is not the legal source of the 2025 duty imposed on SECP licensees. SECP’s August 2025 announcement encouraged stakeholders to work with their banks, microfinance banks, or EMIs to obtain Raast QR codes, but the direction also names other acceptance methods.
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