Karandaaz Digital

Realizing the Potential
of Digital Financial Services

National Payments Infrastructures

Karandaaz Digital is working with apex institutions like State Bank of Pakistan, Securities and Exchange Commission of Pakistan, National Savings, National Bank of Pakistan, and others to develop national digital platforms which shall enable digital inclusion of the unbanked population.


Pakistan's Instant Payment System - RAAST

Grant: USD 16 Million

Karandaaz supported the creation of an instant payment system ‘Raast” at the State Bank of Pakistan. This system will enable low-cost digital transactions between mobile wallets of various financial service providers, allowing interoperability. The system will not only promote the financial deepening of the already financially included but also bring the unbanked and excluded into the formal fold. Raast will be at the center of the digital payment ecosystem in Pakistan and will connect merchants, businesses and SMEs, and consumers to banks, microfinance banks, fintechs, payment service operators and providers, and government entities. This connection, that is currently missing, will be possible through the internet, phones, mobiles, and agents now that a central payments gateway to make high-volume low-value digital payments possible has been put in place. Deployment of this nationwide payment system has been developed on the level one principles, an initiative of the Bill & Melinda Gates Foundation. For more information, visit here.

Raast Merchant Onboarding Entity (MOE)

Raast, the groundbreaking Instant Payment System for Pakistan, embarks on a transformative journey aimed at revolutionizing merchant payments through the utilization of unique Raast IDs, IBAN, Static/Dynamic QR codes and USSD. The Merchant Onboarding Entity (MOE), an instrumental component of this initiative, will transcend the conventional boundaries of merchant enlistment and encompass an array of multifaceted roles and responsibilities. It will be tasked with managing the seamless onboarding of retail outlet merchants, gearing them up for P2M transactions, and providing essential support to ensure a frictionless transition into this innovative payment ecosystem.
Karandaaz Pakistan is on the lookout for partners who can help make this happen, so we invite all those who are interested and meet the eligibility criteria to participate in this Call for Proposals. Please follow the link to learn more.


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Non-profit company registered under Section 42 of the Companies Act, 2017