In a major development for Pakistan’s digital payments ecosystem 1LINK Private Limited Haball Private Limited and Meezan Bank Limited have signed a landmark tripartite agreement to introduce 1GO Raast Person to Merchant services across Haball’s extensive merchant network. The formal signing ceremony took place at 1HQ marking a collaborative effort to streamline digital payment adoption for businesses and retail merchants nationwide. Under this arrangement Meezan Bank has been onboarded as the official settlement bank ensuring a secure and efficient Shariah compliant financial framework for all transactions processed through the new system.
The event was attended by top leadership from the three organizations including Mr. Omer Bin Ahsan CEO of Haball Mr. Muhammad Abdullah Ahmed Group Head of Transaction and International Banking Group at Meezan Bank and Mr. Najeeb Agrawalla CEO of 1LINK. Their presence underscored the strategic importance of this partnership in fulfilling the State Bank of Pakistan’s vision for a digitized and documented economy. By leveraging 1LINK’s national payment switch and Haball’s specialized supply chain and merchant technology the collaboration is set to provide a seamless checkout experience for both consumers and business owners.
The integration of 1GO Raast P2M services will allow merchants within the Haball ecosystem to accept instant payments from customers using any Raast enabled mobile banking application or digital wallet. This interoperable solution is designed to replace traditional cash based transactions with secure QR codes and digital identifiers. For small and medium enterprises this transition offers a low cost alternative to expensive point of sale hardware while providing real time settlement of funds into their Meezan Bank accounts. The initiative aims to reduce the friction in daily trade and improve cash flow visibility for businesses operating in various sectors including FMCG distribution and retail.
Meezan Bank’s role as the settlement bank is a critical component of the agreement as it brings the bank’s robust digital infrastructure and Transaction and Employee Banking expertise to the forefront. By providing the underlying financial rails for these P2M transactions Meezan Bank is helping to bridge the gap between traditional banking and modern fintech solutions. This partnership aligns with the bank’s broader strategy to lead the Islamic banking sector in technological innovation while supporting the national shift toward a cashless society. The involvement of 1LINK further ensures that the platform adheres to high standards of security and technical interoperability required for a national level payment system.
Industry experts view this tripartite agreement as a significant step toward expanding the reach of the Raast instant payment system which is the backbone of Pakistan’s digital financial inclusion strategy. As more merchants adopt the 1GO Raast P2M service the reliance on physical currency is expected to decrease leading to better economic transparency and faster velocity of money. Haball’s proven track record in automating supply chain payments makes them an ideal partner to scale this solution among corporate distributors and their retail networks ensuring that the benefits of digital finance reach every node of the value chain.
Following the signing of the agreement the teams from 1LINK Haball and Meezan Bank are now focused on the technical deployment and merchant onboarding phase. The partners are committed to providing a reliable and user friendly platform that encourages long term digital adoption. This collaboration not only simplifies how merchants collect payments but also empowers them with digital transaction records which can be used to build a credit history for future financing needs. As Pakistan continues its journey toward total financial digitization such partnerships serve as essential building blocks for a more efficient and inclusive economic future.
Follow the SPIN IDG WhatsApp Channel for updates across the Smart Pakistan Insights Network covering all of Pakistan’s technology ecosystem.
