Islamabad, October 18, 2024 – The State Bank of Pakistan (SBP) announced on Thursday that Raast, the country’s first instant payment system, has successfully processed 892 million transactions amounting to a total of Rs. 20 trillion. In an official statement, the central bank highlighted the rapid growth of Raast, noting that the most recent Rs. […]
The State Bank of Pakistan (SBP) has released its annual report for Fiscal Year 2023-24, showcasing significant advancements in the country’s national payment ecosystem, with a notable shift towards digital payments. According to the report, retail payments saw extraordinary growth during FY24, with the volume of transactions rising from 4.7 billion to 6.4 billion, representing […]
San Francisco, October 9, 2024 — Stripe, a leading financial infrastructure platform, today announced an expanded partnership with NVIDIA, aimed at advancing AI technology to benefit Stripe’s customers and improve fraud detection. The collaboration will also broaden global access to NVIDIA’s cutting-edge GPUs and AI software, allowing developers and enterprises to prepay for selected NVIDIA cloud services through […]
KARACHI: The State Bank of Pakistan (SBP) has expressed full confidence in the country’s digital payment infrastructure, reaffirming its capability to support the government’s increasing drive towards a cashless economy. Speaking at the “Future Banking Summit 2024” organized by Total Communications on Monday, Syed Sohail Javaad, Executive Director of the SBP’s Digital Financial Services Group, […]
KARACHI, – Visa, the global payments leader, has announced plans to significantly expand the number of businesses accepting digital payments in Pakistan over the next three years, with the aim of increasing this figure tenfold. Leila Serhan, Visa’s General Manager for Pakistan, North Africa, and Levant, shared this ambitious goal in an interview with Reuters. […]
1LINK, Pakistan’s premier payment system operator, and Visa, a global leader in digital payments, have entered into a strategic partnership to drive innovation and streamline digital payment services across Pakistan. This collaboration introduces the integration of Visa Alias Directory Service within the 1LINK network, aimed at simplifying inbound remittances and significantly improving the user experience. […]
In a significant step toward advancing Pakistan’s digital economy, Mastercard has partnered with UPaisa, the digital financial services platform of U Microfinance Bank and Ufone 4G, to introduce a new physical and virtual debit card. This collaboration aims to offer consumers a secure, convenient, and seamless way to conduct digital transactions both locally and globally. […]
Islamabad – In a significant move to strengthen Pakistan’s digital payment landscape, UPaisa, a leading digital financial services platform powered by U Microfinance Bank and Ufone 4G , has entered into a strategic partnership with Bookme.pk, the country’s premier online ticketing platform. This collaboration aims to integrate UPaisa’s payment API into the Bookme.pk app, providing […]
Karachi, Pakistan, 19 July 2024: Raqami Islamic Digital Bank Pakistan, a visionary digital financial institution, and Paysys Labs Pvt Ltd, a leading payment technology provider, today announced a strategic partnership to transform Pakistan’s digital payments landscape. The collaboration aims to develop an innovative digital payment solution integrating real-time payment systems such as RAAST. Paysys Labs, […]
Karachi, Pakistan, July 11, 2024 — In a groundbreaking partnership, Dubai Islamic Bank Pakistan (DIBP), ChargeUp, and NymCard have unveiled a new corporate expense card solution tailored for businesses in Pakistan. This collaboration aims to revolutionize the way Pakistani companies manage employee expenses by leveraging advanced card issuance and processing technology. ChargeUp will issue Dubai […]