SBP launches accelerator program for digital payments

Programme to run from November 2026 to February 2027, providing technical training to local payment service providers, system implementers and payment-hub operators KARACHI: The State Bank of Pakistan (SBP) has launched the Mojaloop Country Accelerator Program for Pakistan in partnership with the Mojaloop Foundation to strengthen the country's financial technology ecosystem and develop local expertise in digital payment infrastructure. The 16-week programme will run from November 2026 to February 2027 and combine self-paced learning with expert-led sessions. Designed for local system implementers, digital financial service providers and payment-hub operators, the programme aims to develop expertise in digital payment infrastructure. Participants will also join the Mojaloop technical community, supporting continued learning and helping institutions apply global best practices to Pakistan's evolving payments landscape. The Mojaloop Foundation, a non-profit organisation that maintains the Mojaloop open-source payment software, is supporting the accelerator through programme design and technical training. The accelerator is the first initiative under the Collaboration Framework of SBP's Innovation Hub, which was also launched at the inauguration ceremony held at SBP Karachi. Established under SBP Vision 2028, the Innovation Hub provides a platform for structured engagement with the financial technology ecosystem. The Framework supports capacity building, knowledge exchange and ecosystem development through non-exclusive, technology-neutral and provider-neutral partnerships. The inauguration ceremony was attended by SBP leadership, representatives of the Mojaloop Foundation, and senior representatives of banks, financial institutions, technology firms, fintechs and academia. Addressing the ceremony, Deputy Governor SBP Saleem Ullah described the accelerator as an important opportunity to strengthen Pakistan's financial technology ecosystem. He noted that the initiative will connect local talent with global expertise, enabling Pakistani institutions to turn innovative ideas into practical payment solutions. He expressed confidence that the collaboration will promote innovation, strengthen local technical capabilities and expand access to digital financial services. The initiative reflects SBP's commitment to responsible innovation, a stronger digital payments ecosystem and greater financial inclusion in support of inclusive economic growth.