Central Depository Company of Pakistan Limited (CDC) has partnered with Finnect (Private) Limited to enable Raast-based QR payments for Investor Account Services (IAS) account holders. The agreement is aimed at providing investors with a more convenient and digitally accessible way to make payments linked to their investor accounts.
Under the collaboration, IAS account holders will be able to use device-based QR payments through the Raast payment infrastructure. The initiative is described as a first-of-its-kind device-based QR payment solution for investor account services, introducing a more seamless payment experience while reducing reliance on conventional payment methods.
The agreement was signed by CDC Pakistan CEO Badiuddin Akber and Finnect CEO Shahnawaz Mahmood. The partnership reflects CDC’s efforts to incorporate digital payment technologies into its investor services and improve the overall experience for individuals using its account-related services.
The integration of Raast QR payments also highlights the increasing use of Pakistan’s instant payment infrastructure across financial services. By connecting digital payments with investor account services, the initiative could make routine payments faster and more accessible while supporting broader adoption of digital payment channels within the capital markets.
Follow the SPIN IDG WhatsApp Channel for updates across the Smart Pakistan Insights Network covering all of Pakistan’s technology ecosystem.
