Urdu Report Desk
Mashreq Pakistan has become the country’s first newly launched digital bank to offer the full suite of Raast services, including Raast Person-to-Merchant (P2M) payments for customers and merchants.
Launched in August 2026, the service enables merchants to receive instant payments through Raast QR codes, while customers can scan and pay merchants through Mashreq’s digital banking channels.
Raast Payments for Customers and Merchants
The service also allows customers of any Raast-enabled bank to make payments to Raast-enabled merchants, expanding interoperability and convenience across Pakistan’s banking ecosystem.
Mashreq’s Raast P2M service is designed for businesses across various categories, including grocery stores, restaurants, retail outlets, service providers and e-commerce merchants.
Sole proprietors and self-employed professionals can also open a Mashreq NEOBiz account and become Raast P2M merchants, giving smaller businesses a digital option for accepting account-based payments.
Mashreq Pakistan CEO’s Statement
Muhammad Hamayun Sajjad, CEO of Mashreq Pakistan, said Pakistan’s digital payments ecosystem is entering an important phase in which the focus needs to shift from access to adoption.
He said achieving scale requires an approach that enables customers to make digital payments while allowing merchants to accept them seamlessly. According to Sajjad, Mashreq’s unified Raast payments ecosystem is intended to make instant payments a practical part of everyday commerce.
Raast Payments Pakistan Welcomes the Launch
Ahson Bin Saeed, CEO of Raast Payments Pakistan, said building national payments infrastructure is an evolving process and highlighted the importance of strengthening infrastructure, broadening participation and enabling reliable and accessible payment experiences.
He described Mashreq’s launch of Raast P2M as another step toward translating national payment infrastructure into everyday use for merchants and consumers.
State Bank Highlights Digital Transformation
Muhammad Imad Uddin, Director of the Digital Innovation & Settlements Department at the State Bank of Pakistan, said digital transformation comes with challenges, particularly in a dynamic market such as Pakistan.
He said the State Bank of Pakistan has focused on developing the regulatory and technological foundations for a more connected and inclusive payments landscape. He added that initiatives such as Mashreq’s Raast P2M rollout demonstrate how financial institutions can turn this infrastructure into practical payment solutions.
Future Incentives and Request-to-Pay
The launch is part of Mashreq’s broader strategy to accelerate digital payment adoption and expand merchant acceptance across Pakistan.
The bank also plans to introduce customer and merchant incentive programs, including cashback offers, rewards and promotional campaigns across key merchant categories.
As part of its Raast roadmap, Mashreq intends to introduce Request-to-Pay capabilities for online and e-commerce merchants. The feature will allow customers to authorize payments through Raast while providing businesses with a digital collections mechanism.
Technology and Payment Infrastructure
Mashreq said its Raast platform is built on a modern digital architecture that is natively compliant with ISO 20022 messaging standards and aligned with international SWIFT standards.
The architecture is designed to support interoperability, transparency and security while providing flexibility to meet the evolving requirements of Pakistan’s digital payments ecosystem.
Mashreq said it will continue expanding merchant acceptance and enhancing customer and merchant experiences through technology, service and innovation as Pakistan’s digital economy develops.
