Pakistan’s instant digital payment system RAAST has processed more than Rs. 80 trillion in transactions since its launch, with over 3 billion individual payments completed, officials reported during a meeting of the RAAST Board with the Prime Minister. This milestone underscores the platform’s pivotal role in promoting a cashless economy and expanding financial inclusion across the country.
The Prime Minister emphasized that RAAST is a key enabler for the nation’s digital financial ecosystem. He noted the importance of strengthening the platform’s capacity and management to accommodate the growing demand for seamless digital payments from individuals, businesses, and government entities alike.
Officials briefed the Prime Minister that RAAST now has more than 48 million registered users and is integrated with 53 financial institutions nationwide. This broad adoption reflects the growing confidence of both the public and private sectors in the efficiency, security, and reliability of digital payment infrastructure in Pakistan.
The Prime Minister directed relevant authorities to accelerate initiatives that encourage traders, businesses, and entrepreneurs to adopt RAAST for daily transactions. He highlighted that wider usage of the platform would enhance transparency, improve operational efficiency, and strengthen public trust in digital financial services.
RAAST operates under the supervision of the State Bank of Pakistan and is managed by a board largely composed of private-sector professionals with expertise in banking and financial technology. During the meeting, officials outlined the long-term vision for the platform, which aims to shift all government-to-business (G2B) and business-to-government (B2G) payments onto RAAST. This transformation is intended to provide secure, low-cost, and reliable digital payment access to all citizens while reducing reliance on cash transactions.
The meeting was attended by Federal Minister for Finance Muhammad Aurangzeb, Minister for Information and Broadcasting Attaullah Tarar, Minister for Economic Affairs Ahad Khan Cheema, Minister for Information Technology Shaza Fatima Khawaja, Minister of State for Finance Bilal Azhar Kiyani, the Governor of the State Bank of Pakistan, members of the RAAST Board, the CEO, and other senior government officials.
Officials emphasized that RAAST’s expansion not only supports financial inclusion but also strengthens Pakistan’s broader economic digitization goals. By providing a robust infrastructure for instant payments, the system facilitates efficient fund transfers, reduces transaction costs, and enhances the government’s ability to monitor and manage financial flows.
With ongoing improvements in technology, security protocols, and user outreach, RAAST is positioned to become the backbone of Pakistan’s digital economy, supporting both public and private sector growth while promoting a transparent, cashless financial ecosystem.
The platform’s achievements to date mark a significant step toward modernizing Pakistan’s payment landscape and reflect the country’s commitment to embracing digital financial solutions for sustainable economic growth.
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