SBP and K-Electric have joined forces to accelerate the country’s digital transformation. The two entities have signed agreements to integrate K-Electric’s bill payment services into the Raast payment system.
This partnership will enable K-Electric customers to make seamless and secure payments through their bank accounts via Raast, Pakistan’s instant payment system. The integration will offer a convenient and efficient way for customers to settle their utility bills.
Saleem Ullah, Deputy Governor of the SBP, emphasized the importance of digitalizing public services and encouraged the banking industry to collaborate with fintech companies to provide innovative payment solutions. He highlighted the increasing demand for digital payment options and the role of Raast in facilitating these services.
Moonis Alvi, CEO of K-Electric, expressed his enthusiasm for the partnership, stating that it aligns with the company’s vision of enhancing customer experience through digital innovation. By integrating with Raast, K-Electric aims to provide a more convenient and accessible payment experience for its customers.
This collaboration marks a significant step towards a more digital Pakistan, where citizens can easily access essential services and make payments through various digital channels.
