Raast instant payment system is accelerating its growth with a new initiative targeting wider adoption among smaller retailers. Raast, known for its convenient payment options like Raast IDs, IBANs, QR codes, and USSD, aims to create a cashless ecosystem across retail outlets in the country.
This program is being led by Karandaaz Pakistan with the backing of the State Bank of Pakistan (SBP). Recognizing the challenges faced by tier 2 and 3 retailers in adopting digital payments, the initiative aims to address these hurdles and encourage broader acceptance of Raast within the retail sector.
To implement this pilot program, Karandaaz Pakistan has selected ADMAA Retail Enablement Services (Pvt.) Ltd. (A.R.E.S), a company with proven experience in helping merchants embrace digital financial inclusion and accept digital payments.
The presence of key figures like the Deputy Governor of SBP, Mr. Saleem Ullah, at the signing ceremony underscores the government’s commitment to promoting the adoption of digital payments across Pakistan. This pilot program signifies a major step towards expanding Raast’s reach and fostering a more cashless environment within the Pakistani retail landscape.
