PayFast, a State Bank of Pakistan-licensed fintech company, has entered into a landmark partnership with Askari Bank to reshape the digital payments ecosystem of Pakistan. The two organizations have signed an agreement to launch a Raast-powered white-label checkout solution designed to deliver secure, seamless, and fully branded digital payment experiences for businesses and consumers nationwide.
The agreement was formalized at Askari Bank’s Digital Innovation Lab, located at NSTP, NUST in Islamabad, marking the start of a collaboration that reflects both institutions’ commitment to strengthening Pakistan’s digital economy.
Through this partnership, Askari Bank will leverage PayFast’s infrastructure to provide merchants and customers with a customizable checkout solution that streamlines online transactions, reinforces the bank’s digital identity, and enhances efficiency for businesses across the retail, wholesale, e-commerce, and services sectors.
At the heart of the initiative lies Raast, Pakistan’s instant and interoperable payment system. The integration of Raast into Askari Bank’s white-label platform will simplify Person-to-Merchant (P2M) payments, enabling account-based transactions that are faster, more reliable, and more secure. This development is expected to play a pivotal role in advancing financial inclusion by giving more individuals and businesses access to trusted digital payment methods.
The move also aligns with Prime Minister Shehbaz Sharif’s vision of a cashless Pakistan. By fostering the adoption of Raast and offering modernized checkout solutions, PayFast and Askari Bank aim to build a more inclusive and digitally empowered financial ecosystem.
Adnan Ali, CEO of PayFast, emphasized the importance of localized solutions: “This partnership with Askari Bank reflects our commitment to local solutions for local needs. By enabling Raast within this white-label platform, Askari Bank can deliver secure, seamless digital payments under its own brand—built on trusted infrastructure. Therefore, empowering institutions and create lasting impact for businesses and consumers alike.”
Mahwish Saad Khan, Chief Business Officer at PayFast, added: “This partnership is an important milestone in our journey to empower institutions with modern digital infrastructure. By integrating Raast into the checkout experience, we are proud to support Askari Bank as it expands its digital offerings and plays a leading role in strengthening Pakistan’s payments ecosystem.”
Ali Naqvi, Chief Information Officer at Askari Bank, highlighted the broader impact of the initiative: “With our white-label application featuring Raast digital merchant onboarding, an internet payment gateway and e-invoicing, we are not only strengthening Askari Bank’s digital footprint but also opening new frontiers in retail, wholesale, e-commerce and services. This is more than a technological leap; it is the promise of empowerment, inclusion and accelerated growth for all who participate in elevating Pakistan’s digital economy.”
The collaboration underscores a shared vision between PayFast and Askari Bank to accelerate the adoption of Raast-based digital payments, strengthen Pakistan’s payment infrastructure, and further the country’s transition toward an inclusive, efficient, and cashless economy.
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