Prince Rahim Aga Khan Assures KP Government of Investment
May 29, 2026
Karandaaz and Tapsys will onboard up to 10,000 merchants under Raast to expand digital payments and financial inclusion in Pakistan.
Karandaaz Pakistan and Tapsys have entered into a strategic partnership to accelerate digital payment adoption among micro and small merchants across Pakistan under the Raast Merchant Onboarding & Facilitating Entities (RMOFE) programme.
The collaboration aims to onboard up to 10,000 merchants into Pakistan’s growing digital payments ecosystem.
The initiative focuses on expanding merchant-level adoption of digital financial services, particularly in underserved and lower-tier markets where cash transactions continue to dominate daily business activity.
Officials said the partnership seeks to address long-standing operational and behavioural barriers slowing the adoption of cashless payments among small businesses.
Under the agreement, Tapsys will deploy its PayApp platform alongside smart soundbox technology capable of providing real-time audio confirmation of transactions in local languages. Industry experts believe the technology could help improve trust and usability among merchants unfamiliar with digital payment systems.
According to officials, one of the key challenges facing Pakistan’s digital economy is limited confidence in cashless transactions, especially in fast-paced retail environments where instant payment verification is critical.
The soundbox solution is designed to simplify digital transactions and provide merchants with immediate confirmation without requiring constant phone or screen checks.
The partnership aligns with Pakistan’s broader push toward financial inclusion and the expansion of the Raast instant payment system launched by the State Bank of Pakistan. Raast has become a central component of the country’s digital financial infrastructure strategy aimed at reducing dependence on cash and improving transaction accessibility for businesses and consumers.
Tapsys currently operates across 85 cities in Pakistan and specialises in merchant payment enablement, particularly in Tier-2 and Tier-3 urban centres.
Through the new collaboration, the company will leverage its existing merchant network to facilitate wider adoption of Raast-enabled payment services among small enterprises.
Waqas ul Hasan said micro and small merchants remain central to Pakistan’s transition toward a more inclusive digital economy. He noted that the partnership reflects efforts to move digital payments beyond infrastructure development and toward practical, everyday business usage.
He added that enabling locally relevant tools such as multilingual payment confirmation systems could significantly improve merchant trust and usability in underserved markets where digital financial penetration remains low.
Karim Jindani stated that the company’s objective is to simplify digital payments for historically underserved business segments. He said integrating Raast with smart soundbox technology would help merchants transition away from cash while expanding access to digital financial services beyond major metropolitan centres.
Industry observers believe the partnership could strengthen Pakistan’s digital payments landscape by improving merchant confidence, increasing transaction transparency, and supporting broader economic formalisation efforts.
The initiative also reflects growing collaboration between fintech firms and development organisations seeking to accelerate digital financial adoption across the country.
