June 15, 2023

Pakistan’s Instant Payment System “Raast” to offer person-to-person payment services

February 3, 2022

February 03, 2022
Karachi, Pakistan

CMA had completed the project's second stage for the State Bank of Pakistan (SBP) to implement Pakistan's Instant Payment System "Raast". Now Raast offers instant, reliable and free person-to-person payment services to Pakistan's people to promote digital financial services and financial inclusion. Financial institutions customers would be able to send and receive funds using either their International Bank Account Number (IBAN) or their Raast ID. Initially, customers would be able to use their registered mobile numbers as their Raast ID and link it to their bank accounts to receive funds conveniently.

More details are available at SBP website.

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