Company:Raast
Raast is Pakistan 's first instant payment system that enable end-to-end digital payments among individuals, businesses, and government entities instantaneously.[1] Raast offer instant, reliable and zero-cost digital payment services to the people of Pakistan with the objective of promoting the adoption of digital financial services in the country. The Raast System is fully owned, developed and operated by State Bank of Pakistan.[2][3][4]
| Founded | February 2022 |
|---|---|
| Owner | Government of Pakistan |
| Parent | State Bank of Pakistan |
| Website | www |
Under Raast Person-to-Person (P2P) fund transfers and settlement services, bank customers would be able to send and receive funds in their accounts using their bank's mobile application, internet banking or over the counter services.[5][6][7][8] Raast aims to facilitate the common man to do their transactions through cell phones, besides it will also help improve the saving rates.[9][10][11]
Raast — an Urdu word(راست) that means correct and direct — offers an instant, reliable and zero-cost digital payment system to the people of Pakistan. The SBP said the launch of Raast P2P service will not only provide a convenient and hassle-free digital fund transfer service to customers but will also provide an efficient and enabling payments infrastructure that would pave the way for digitisation of the economy and promotion of digital financial services in the country.[12][13]
For customers’ facilitation, they can set their registered mobile phone number as their "Raast ID" and link it to their preferred International Bank Account Number (IBAN) using the bank's mobile application, internet banking, or visiting their bank branch.[14][15] Raast is not an online application nor is it a consumer product. It is the "backend infrastructure" connected to banks, fintech etc., and service providers would be able to build a business service on top of it.[16][17]
References
- ↑ "https://www.sbp.org.pk/dfs/images/raast.jpg" (in en). https://www.sbp.org.pk/dfs/Raast.html.
- ↑ "RAAST Person to Person (P2P)" (in en). https://www.sbp.org.pk/dfs/Raast-P2P.html.
- ↑ "In a first, PM Imran Khan launches fast digital transactions system Raast" (in en). https://www.geo.tv/latest/399314-in-a-first-pm-imran-khan-launches-fast-digital-transactions-system-raast.
- ↑ "Pakistan launches first instant digital payment system" (in en). https://gulfnews.com/world/asia/pakistan/pakistan-launches-first-instant-digital-payment-system-1.85739060.
- ↑ "SBP introduces Pakistan’s first instant payment system 'Raast'" (in en-US). 2022-02-03. https://arynews.tv/sbp-introduces-pakistans-first-instant-payment-system-raast/.
- ↑ "PM launches instant digital payment system Raast" (in en). 2022-02-15. https://www.24newshd.tv/15-Feb-2022/pm-imran-launches-instant-digital-payment-system-raast.
- ↑ "Imran Khan launches ‘Raast’ instant payment system" (in en). https://www.radio.gov.pk/15-02-2022/pm-launches-raast-instant-payment-system.
- ↑ Kazmi, Mobasher. "Raast set to revolutionise digital payments in Pakistan" (in en). https://www.theasianbanker.com/updates-and-articles/raast-set-to-revolutionise-digital-payments-in-pakistan.
- ↑ "PM launches 'Raast' instant payment system". https://dunyanews.tv/en/Pakistan/641315-2million-people-out-of-22billion-are-tax-defaulters:-PM.
- ↑ "PM Imran launches ‘Raast’ person-to-person instant payment system" (in en). https://www.thenews.com.pk/latest/933846-pm-imran-launches-raast-person-to-person-instant-payment-system.
- ↑ "Would the RAAST revolution live up to its promise?" (in en-US). 2021-08-22. https://profit.pakistantoday.com.pk/2021/08/22/would-the-raast-revolution-live-up-to-its-promise/.
- ↑ "PM to launch ‘Raast’ instant payment system today" (in en-US). 2022-02-15. https://mmnews.tv/pm-to-launch-raast-instant-payment-system-today/.
- ↑ "Pakistan launches 'Raast' digital payment system" (in en-US). 2022-02-16. https://dailytimes.com.pk/886391/flpakistan-launches-raast-digital-payment-system/.
- ↑ "SBP introduces instant and free person-to-person payments under Raast" (in en-US). 2022-02-06. https://www.techjuice.pk/sbp-introduces-instant-and-free-person-to-person-payments-under-raast/.
- ↑ "Here is everything you need to know about the Raast digital instant payment system" (in en-GB). 2021-01-14. https://www.globalvillagespace.com/here-is-everything-you-need-to-know-about-the-raast-digital-instant-payment-system/.
- ↑ Harris, Sarah (2017-04-20). "Service Providers as Digital Media Infrastructure". University of Illinois Press. doi:10.5406/illinois/9780252039362.003.0009. http://dx.doi.org/10.5406/illinois/9780252039362.003.0009.
- ↑ "RAAST | Standard Chartered Pakistan" (in en-US). https://www.sc.com/pk/promotions/raast/.
External links
 |
