Mashreq Pakistan has launched a full suite of Raast payment services, becoming the first newly launched digital bank in Pakistan to offer Raast Person-to-Merchant (P2M) payments alongside its digital banking services. The initiative is aimed at expanding the use of instant digital payments among consumers and businesses by allowing merchants to receive payments through Raast QR codes while customers can make transactions through Mashreq’s digital banking channels. The launch is part of the bank’s wider strategy to increase digital payment adoption and strengthen merchant acceptance across Pakistan.
The Raast P2M service was launched in August 2026 and allows merchants to receive instant payments through Raast QR codes. Customers can scan the QR codes and complete payments through Mashreq’s digital banking channels, providing an account-based alternative to cash transactions. The service is designed to support everyday commercial activity by connecting consumers and businesses through Pakistan’s national instant payment infrastructure. The broader availability of QR-based payments also gives merchants an additional digital channel for collecting payments without relying solely on traditional cash-based transactions.
Mashreq Pakistan said its Raast P2M offering is designed for businesses operating across a wide range of sectors. Grocery stores, restaurants, retail outlets, service providers and e-commerce merchants can use the service to accept digital payments from customers. The bank is also extending the facility to sole proprietors and self-employed professionals through its Mashreq NEOBiz account. This enables smaller businesses and independent professionals to establish themselves as Raast P2M merchants and accept account-based digital payments through the same national payment infrastructure.
Muhammad Hamayun Sajjad, CEO of Mashreq Pakistan, said Pakistan’s digital payments ecosystem is moving into a phase where greater attention is being placed on adoption after expanding access to digital payment services. He said the launch of a unified Raast payments ecosystem for customers and merchants is intended to make instant payments a practical part of everyday commerce. According to Sajjad, the bank is focused on creating digital experiences that provide value for customers and businesses while supporting Pakistan’s transition towards a more digitally connected and cashless economy.
Ahson Bin Saeed, CEO of Raast Payments Pakistan, described the development of national payment infrastructure as an ongoing process and said the progress made through Raast is encouraging. He said the next phase involves strengthening the infrastructure, increasing participation and enabling institutions to develop payment experiences that are relevant, reliable and accessible. He added that Mashreq Pakistan’s launch of Raast P2M represents another step towards bringing the national payment infrastructure into regular use by merchants and consumers.
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 rapidly changing market such as Pakistan. He said the State Bank of Pakistan has continued working on the regulatory and technological foundations required to develop a more connected and inclusive payments environment. The continued expansion of Raast is intended to strengthen these foundations and provide financial institutions with infrastructure that can support wider digital payment adoption.
Mashreq Pakistan said it will continue expanding merchant acceptance while working to improve the experiences of both customers and businesses through technology, services and innovation. With Raast P2M, the bank is seeking to increase access to instant, secure and interoperable payments across different segments of the economy. The expansion of merchant-based digital payments could further connect small businesses, service providers, retailers and consumers with Pakistan’s growing digital financial infrastructure, supporting the broader development of the country’s digital economy.
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