Raast, Pakistan’s pioneering instant digital payment system launched by the State Bank of Pakistan (SBP), has reached a major milestone, processing over 892 million transactions with a cumulative value exceeding Rs 20 trillion since its inception. This development marks a significant step forward in Pakistan’s journey toward a fully digital and financially inclusive economy.
This milestone was highlighted during the Pakistan Financial Literacy Week (PFLW) 2025, where SBP’s Deputy Governor, Saleem Ullah, inaugurated the Go Cashless campaign at a local shopping mall in Clifton, Karachi. The initiative, organized in collaboration with 12 prominent financial institutions, aims to educate both merchants and consumers on the benefits of adopting digital payment solutions and fostering a cash-lite ecosystem.
Speaking at the event, Saleem Ullah emphasized that the Go Cashless initiative is more than a one-time campaign—it is part of the SBP’s long-term strategy to accelerate Pakistan’s digital transformation. He noted that during the second quarter of 2025 alone, Raast processed 795.7 million transactions, with a total transaction value of Rs 6.4 trillion. This continued growth illustrates the increasing public confidence in digital financial infrastructure.
To further strengthen the framework supporting digital transactions, the SBP has also issued updated Raast participation criteria, ensuring that all financial institutions adhere to a high standard of accessibility, interoperability, and security.
Digital payment adoption across the country has shown robust momentum. According to the Deputy Governor, mobile and internet banking transactions surged by 62 percent, reflecting a shift in user behavior toward digital-first financial interactions. In fiscal year 2024, overall digital transactions grew by 35 percent in volume, increasing from Rs 4.7 billion to Rs 6.4 billion, while the total value of these transactions climbed to Rs 547 trillion.
This rapid digital uptake underscores the importance of Raast as a cornerstone of Pakistan’s financial digitization strategy. Launched as a central, real-time payment gateway, Raast provides individuals and businesses with instant, secure, and zero-cost digital transaction services. The platform aims to bring formal financial services to the underserved and unbanked segments of society, aligning with the broader financial inclusion agenda of the SBP.
The Go Cashless campaign is a practical extension of this mission. By bringing digital payments to a bustling commercial setting like a shopping mall, the campaign seeks to demystify digital finance and encourage its everyday use. From small vendors to large retail outlets, the SBP envisions a future where digital payments are not just an alternative but the default mode of transaction.
Saleem Ullah highlighted that the future of Pakistan’s financial system lies in inclusivity, innovation, and integration. As part of its digital strategy, the SBP continues to invest in awareness campaigns and partnerships with banks and fintechs to encourage widespread adoption of systems like Raast.
With over 892 million transactions already processed and ongoing initiatives aimed at promoting cashless practices, Raast stands as a symbol of Pakistan’s evolving financial landscape—streamlined, secure, and increasingly digital.