SBP Introduces New 2-Hour Cooling Time for Mobile Payments in Pakistan

The State Bank of Pakistan (SBP) has announced a new rule that will change how people use mobile banking in the country. From now on, every bank and mobile wallet must follow a 2-hour “cooling time” before a newly added beneficiary (receiver) can get money. This step has been taken to reduce online fraud, protect users from scams, and make digital payments safer.

This article explains what the new rule means, why it is important, and how it will affect everyday mobile banking users.

What Is the 2-Hour Cooling Time?

The 2-hour cooling time means that when a customer adds a new person to send money to, the bank will wait two hours before allowing the first transfer. After two hours, the customer can send money normally.

This rule applies to:

Mobile Banking Apps
Internet Banking
Branchless Banking Accounts (EasyPaisa, JazzCash, UPaisa, etc.)

The cooling period will only apply once for each new beneficiary. After that, money can be sent anytime without delay.

Why Did SBP Introduce This New Rule?

In recent years, online fraud and mobile wallet scams have increased across Pakistan. Many users were tricked into sending money to unknown numbers within seconds. This fast transfer speed made it easy for scammers to take money and disappear.

The new cooling time helps stop such fraud because:

Scammers cannot receive money instantly from a new sender.
Customers get extra time to think before sending money.
Banks can verify suspicious accounts before transfers happen.

SBP aims to make mobile banking safer, more responsible, and more secure for millions of people.

How This Rule Works in Real Life

Let’s understand it with a simple example:

You add a new receiver (friend, shop, or vendor) in your mobile app.
The app shows a message that the transfer will be available after 2 hours.
After two hours, you can send any amount without issues.
Next time, you can send money instantly to the same receiver.

This cooling time applies only once per beneficiary.

Who Will Be Affected the Most?

The rule will be noticed by:

1. New Mobile Banking Users

People who add beneficiaries very often may face small delays.

2. Online Shopping and Freelancers

New clients or vendors may need to wait two hours for first-time payments.

3. Scam Victims

This rule offers a big relief. Even if someone tries to cheat you, they cannot get your money instantly.

Benefits of the New Cooling Time Rule

1. Protection Against Scams

Gives time to cancel or report any suspicious transaction.

2. Safer Digital Economy

Makes mobile payments more controlled and trustworthy.

3. Time for Verification

Banks can verify whether the new receiver is involved in fraud or not.

4. Peace of Mind

Users feel more confident about sending money online.

Will This Delay Everyday Payments?

Not really. The delay happens only when you:

Add a beneficiary for the first time

Transfers to already added people remain instant, just like before.

For many people, this change will not affect daily routine payments at all.

SBP’s Goal Behind the Policy

The main purpose of the new policy is to create a safe digital payment environment in Pakistan. As mobile banking grows rapidly, new risks also appear. SBP wants to ensure that:

Fraud cases are minimized
Users feel secure using online banking
Banks have time to check suspicious activities
The digital finance system becomes stronger

This rule is part of SBP’s long-term strategy to modernize Pakistan’s financial sector.

What Users Should Do Now

To avoid inconvenience, users should:

Add beneficiaries in advance if they plan payments
Double-check numbers before adding someone
Stay alert for scam calls and fake messages
Avoid sending money to unknown persons

Taking these steps will make digital banking safer and smoother.

Conclusion

The new SBP 2-hour cooling time for mobile payments is a major step to protect the public from online fraud. While it may cause a short delay when adding a new receiver, the overall benefit is much bigger — safer banking, fewer scams, and better control over digital transactions.

This policy shows that SBP is taking active measures to secure the growing digital economy in Pakistan. Mobile banking users should welcome this change, as it is designed to safeguard their hard-earned money.