Tag: Raast

Meezan Bank accelerates Pakistan digital payments by onboarding 50000 merchants and integrating Raast to drive financial inclusion and a documented economy.

Pakistan targets a fully digitized economy by June 2026, leveraging a successful 5G spectrum auction and JazzCash’s mobile-first subsidy delivery systems.

The SBP Quarterly Payment Systems Report reveals a massive shift toward a cashless economy with digital transactions reaching 92 percent of the retail total.

Safepay announces general availability of Raast, enabling real-time bank transfers with instant confirmation, automated reconciliation, and seamless API integration for merchants across Pakistan.

Pakistan’s instant digital payment platform RAAST has processed over Rs. 80 trillion in transactions, connecting 48 million users and 53 financial institutions, enhancing financial inclusion and promoting a cashless economy.

Allied Bank introduces Pakistan’s first RAAST-enabled Cash Deposit Machines, enabling instant, interoperable cash deposits into any bank account. This innovation enhances convenience, accelerates the transition toward a cashless economy, and supports financial inclusion across the country.

In support of Pakistan’s Cashless Economy initiative, JazzCash strengthens its position as the leading digital payments provider by enabling RAAST QR transactions at over 400 fuel stations nationwide, expanding its merchant network to 650,000 and driving interoperability across Pakistan’s digital payment ecosystem.

Allied Bank, in collaboration with LUMS, hosted the 4th Fintech Hackathon to foster innovation in Pakistan’s financial technology ecosystem, bringing together startups, students, and tech professionals to develop digital solutions in areas like AI, green banking, and payments.

Askari Bank Limited and 1LINK have signed an agreement to enable 1GO Raast P2M payment acceptance, empowering merchants across Pakistan to receive secure, real-time digital payments via QR codes — advancing the country’s cashless economy vision.

The government has ordered an independent audit of the Cashless Economy Initiative 2025 to evaluate its design, implementation, and impact. The review will assess adoption of Raast, QR payments, and government digitization while recommending improvements to strengthen Pakistan’s digital financial future.

Haball CEO Omer bin Ahsan emphasizes the growing role of B2B digital payments in Pakistan, highlighting instant settlement, contextualization, and regulatory support as key drivers of fintech-led economic growth.

CDC has integrated the RAAST payment system with Munir Khanani Securities, enabling real-time fund transfers for investors and advancing Pakistan’s digital capital market infrastructure.