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NBP receives approval to commercially launch Raast P2M services, advancing Pakistan’s digital payments and cashless economy initiatives.
National Bank of Pakistan has received regulatory approval for the commercial launch of Raast Person-to-Merchant (P2M) Acquiring, marking a significant step in Pakistan’s ongoing transition toward a digital and cashless economy.
The approval enables NBP to formally roll out Raast P2M acquiring services for merchants, institutions, customers, and government entities across the country. Officials say the development strengthens the bank’s broader digital payments strategy while supporting nationwide efforts to increase digital financial inclusion.
The milestone was acknowledged during a meeting between representatives from NBP’s Digital Banking Group and the State Bank of Pakistan Digital Innovations & Settlement Department. Senior officials from both institutions attended the session, including Director Digital Innovations Muhammad Imaduddin and NBP Chief Digital Officer Adnan Nasir.
According to State Bank of Pakistan Raast System, Raast is Pakistan’s instant payment system designed to enable secure, low-cost, and interoperable digital payments for individuals, businesses, and institutions. The system forms a central part of the country’s strategy to modernise financial infrastructure and expand digital payment adoption.
NBP stated that the approval will allow the bank to actively promote Raast P2M services through structured awareness campaigns and merchant engagement programmes. The bank plans to work closely with regulators, fintech companies, business partners, and merchant communities to accelerate adoption of digital transactions.
Officials highlighted that the initiative will particularly focus on underserved segments, small merchants, and institutional payment ecosystems where digital acceptance remains relatively limited. The expansion of merchant-based digital payment infrastructure is viewed as an important component in reducing cash dependency and improving transaction transparency.
Pakistan’s digital payments ecosystem has witnessed significant growth in recent years as banks and fintech companies increasingly integrate instant payment solutions into retail and commercial services. According to State Bank of Pakistan Digital Payments Data, digital banking and electronic transactions have continued to rise across the country amid broader financial digitisation efforts.
Industry experts say wider Raast adoption could improve transaction efficiency, reduce operational costs for businesses, and support financial inclusion by enabling easier access to formal payment systems. The government and financial regulators have repeatedly identified digital payments as a critical pillar of Pakistan’s digital economy agenda.
NBP said it remains committed to expanding digital payment acceptance nationwide while continuing collaboration with the State Bank of Pakistan and other stakeholders to strengthen Pakistan’s evolving financial technology landscape.
