K-Electric Partners with SBP to Enable Seamless Bill Payments via Raast – Fintech News Pakistan

SBP and K-Electric Partner to Launch Raast Integration for Instant Digital Bill Payments In a major step toward accelerating payment digitization, the State Bank of Pakistan (SBP) and K-Electric (KE), Pakistan’s leading private power utility, have announced a partnership to initiate a Proof of Concept (PoC) under Raast’s Payment Initiation Service Provider (PISP) model. This…

Read More

Pakistan Connects to Arab World Payments Ecosystem with “Buna-Raast Project” Goes Live: SBP – Fintech News Pakistan

Islamabad, October 2024 – In a landmark development for Pakistan’s financial sector, the State Bank of Pakistan (SBP) has announced the successful integration of its Raast payment system with the Arab Monetary Fund’s (AMF) Buna cross-border payment platform. This historic collaboration allows for real-time, secure, and cost-effective payments between Pakistan and the Arab region, significantly…

Read More

Raast Processes 892 Million Transactions Worth Rs. 20 Trillion, Says SBP – Fintech News Pakistan

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….

Read More

State Bank of Pakistan Onboards Provincial Accountant Generals to RAAST Payment System – Fintech News Pakistan

The State Bank of Pakistan (SBP) is expanding its groundbreaking RAAST payment system by onboarding the provincial chapters of Accountant Generals in Punjab, Balochistan, and Gilgit-Baltistan, according to the recently released “Annual Payment Review” by the central bank. The integration of these Accountant General offices into RAAST marks a significant step in the ongoing digital…

Read More

Golootlo Pioneers Digital Transformation with 1GO Payment Service in collaboration with 1LINK and RAAST – Fintech News Pakistan

In a world where technology is evolving at a rapid pace, businesses are constantly exploring new avenues to stay ahead. Amid economic challenges, especially in countries like Pakistan grappling with high inflation, one company is making a significant impact. Golootlo, Pakistan’s leading discount platform, is not only helping inflation-struck citizens save money but also revolutionizing…

Read More

Accelerating Raast Adoption: Karandaaz Pakistan and SBP’s Initiative to Onboard Tier 2 & 3 Retailers – Fintech News Pakistan

Raast: Revolutionizing Payments with a New Initiative for Tier 2 & 3 Retailers In a significant move to transform merchant and retailer payments in Pakistan, Raast, the country’s groundbreaking instant payment system, is expanding its reach through an innovative pilot program. This initiative, backed by Karandaaz Pakistan with the support of the State Bank of…

Read More

Pakistan Fintech Association Calls for Enhanced Governance, Compliance, and Raast Distribution Partnerships in Fintech Sector – Fintech News Pakistan

Pakistan Fintech Association Urges Stronger Governance and Compliance in Fintech Sector The Pakistan Fintech Association (PFA) has called on all fintech companies, both regulated and non-regulated, to place a heightened emphasis on robust governance and compliance structures. As the financial landscape evolves and regulatory expectations rise, the PFA reaffirms its commitment to supporting fintech companies…

Read More

easypaisa Enables Raast P2M Payments to Digitize Person-to-Merchant Transactions – Fintech News Paksitan

easypaisa Integrates SBP’s Raast P2M System to Boost Digital Payments easypaisa, Pakistan’s leading mobile financial service provider, has enhanced its service offerings by integrating the Raast P2M (Person to Merchant) payment system on its platform. This strategic move by the State Bank of Pakistan (SBP) is designed to accelerate the digitization of merchant and business…

Read More

easypaisa Introduces Raast-Based QR Code Payments for Eid-ul-Azha Sacrificial Animal Transactions – Fintech News Pakistan

Easypaisa, Pakistan’s leading digital payment platform, is set to revolutionize the sale and purchase of sacrificial animals this Eid-ul-Azha with its innovative in-app Raast-based QR code payment system. This initiative aligns with the State Bank of Pakistan’s (SBP) QR code payment system under the Raast instant payment service, aimed at facilitating secure and convenient transactions…

Read More

JazzCash and SBP Introduce Digital Payments at Cattle Markets Ahead of Eidul Azha – Fintech News Pakistan

In a significant move to streamline financial transactions at cattle markets ahead of Eidul Azha, JazzCash has partnered with the State Bank of Pakistan (SBP) to enable interoperable RAAST QR codes for payments at cattle markets nationwide. This initiative aims to replace traditional cash-based transactions with secure, efficient digital payments, ensuring safe and secure transactions…

Read More