Pakistan instant digital payment system RAAST has crossed a major milestone by processing transactions worth more than Rs 80 trillion since its launch, with over 3 billion transactions completed to date. The progress was shared with the Prime Minister during a meeting of the RAAST Board, where officials provided an update on the platform performance, scale, and future direction. The figures highlight the growing role of digital payments in Pakistan financial ecosystem as individuals and institutions increasingly rely on instant and low cost electronic transfers for everyday transactions.
During the meeting, the Prime Minister emphasized that RAAST has become a central pillar in promoting a cashless economy and expanding financial inclusion across the country. He noted that as transaction volumes and user adoption continue to rise, the platform capacity, governance, and operational management must be strengthened to ensure reliability and resilience. Officials briefed the Prime Minister that the number of registered RAAST users has exceeded 48 million, reflecting widespread adoption across different segments of society. It was also shared that 53 financial institutions are now connected to the system nationwide, enabling interoperability across banks, microfinance institutions, and payment service providers.
The Prime Minister directed relevant authorities to accelerate efforts aimed at encouraging traders, businesses, and entrepreneurs to adopt RAAST for routine financial transactions. He stressed that wider use of the platform at the merchant and business level would contribute to improved transparency, operational efficiency, and public trust in digital payment mechanisms. Officials explained that broader merchant adoption would also help reduce cash handling costs and support better documentation of economic activity. The emphasis on business usage reflects the government objective of embedding digital payments into daily commercial transactions rather than limiting them to person to person transfers.
The meeting was informed that RAAST operates under the State Bank of Pakistan and is governed by a board primarily composed of private sector professionals selected for their expertise in finance, technology, and governance. This structure was highlighted as a key factor in maintaining operational independence and technical oversight. Officials also outlined the long term vision for RAAST, which includes migrating all government to business and business to government payments onto the platform. This shift is intended to provide citizens and enterprises with secure, reliable, and low cost access to digital payment services while improving efficiency in public sector disbursements and collections.
The session was attended by Federal Minister for Finance Muhammad Aurangzeb, Minister for Information and Broadcasting Attaullah Tarar, Minister for Economic Affairs Ahad Khan Cheema, Minister for Information Technology Shaza Fatima Khawaja, and Minister of State for Finance Bilal Azhar Kiyani. The Governor State Bank of Pakistan, members of the RAAST Board, the chief executive officer of RAAST, and senior government officials were also present. The participation of key economic and technology leadership underscored the importance of RAAST within Pakistan broader digital finance strategy and its role in supporting inclusive growth, transparency, and modernization of the national payment infrastructure.
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