Digital Payment: Adoption of Raast vs. Mobile Wallets (EasyPaisa / JazzCash): User Preference Analysis in the Informal Sector
DOI:
https://doi.org/10.65755/jpa-20264701-131Keywords:
Cashless Economy, Raast Payment System, Digital Financial Inclusion, Informal Economy, Mobile Wallet AdoptionAbstract
Despite the development of an electronic payment platform known as Raast by the government of Pakistan that facilitates free transactions, there is still a substantial percentage of the workforce in Pakistan who uses mobile wallet payment methods such as EasyPaisa and JazzCash in their businesses and transactions. This exploratory pilot study (n=60; 50 questionnaires and 10 interviews) examines key factors that affect the decision to adopt digital financial technology among informal workers in Pakistan. It reveals that availability of a free digital platform is not enough to foster adoption. Factors that play an important role in shaping the behavior of users include structural exclusions, low levels of digital literacy, dependence on nearby cash agents, and fears of fiscal monitoring. In particular, there was a high negative correlation between the fear of state supervision and use of Raast payments (r = -0.76, p < .001). Furthermore, the research also suggests that the zero MDR approach may generate a market gap that makes banks reluctant to onboard smaller businesses. Thus, this paper discusses a behavioral policy framework for the provision of liquidity, access, and value creation including digital safe harbors, open agency practices, and the public digital credit registry.
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Copyright (c) 2026 Sanghaar Malik (Author)
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