Pakistan Single Window to Introduce Digital Wallet for Cross-Border Trade Payments
The new Unified Payment System will allow traders to pay customs duties and taxes through a pre-funded digital wallet, operated by a licensed bank or fintech under SBP regulations.
ISLAMABAD — Importers and exporters in Pakistan may soon have a new way to pay customs duties, taxes, and other trade charges through a pre-funded digital wallet. The Pakistan Single Window (PSW) is planning to launch a Unified Payment System (UPS) for cross-border trade payments, which will be operated by a licensed bank or fintech company under a framework approved by the State Bank of Pakistan (SBP). The system will leverage existing banking infrastructure rather than building a new one from scratch.
Under the proposed model, traders will be able to maintain reusable balances in the wallet and top them up using inter-bank fund transfers (IBFT), Raast, banking apps and portals, or over-the-counter deposits. They will also have the option to withdraw funds remotely. The wallet will settle payments against payment advice generated within the PSW ecosystem, covering services such as the PSW platform itself, the Maritime Single Window and Port Community System, the Air Community System, the Customs Clearance System, and other PSW-linked services.
The service provider will be responsible for fund custody, balances, top-ups, withdrawals, refunds, reversals, and settlement, as well as customer due diligence and anti-money laundering checks. PSW itself will not hold, intermediate, or settle customer funds. The wallet will connect to PSW only through the UPS, and PSW will have the flexibility to add more payment providers later without major system changes.
Currently, trade payments within PSW are processed through Pre-Deposit (PD) accounts and bank or payment-gateway-based mechanisms. The new wallet will be an additional option alongside these, not a replacement, and existing PD accounts will not be migrated. For businesses, the key benefits are convenience and visibility: they can park funds in advance, pay multiple charges from a single balance, and track each transaction, its settlement, and reconciliation, making trade payments faster and more transparent.
The move is expected to streamline trade-related payments, reduce processing times, and enhance transparency for traders. It also aligns with broader efforts to digitize trade processes and improve the ease of doing business in Pakistan. Further details, including the timeline for launch and the selection of the service provider, are expected to be announced in due course.
