Askari Bank Limited and 1LINK (Private) Limited have announced a strategic partnership aimed at advancing digital financial inclusion and promoting Pakistan’s transition toward a cashless economy. The two organizations have signed an agreement to enable digital merchant payment acceptance through the 1GO Raast P2M Acceptance solution, marking a significant milestone in the country’s payment ecosystem.
The agreement aligns with the national vision to expand digital transactions, encourage financial transparency, and reduce reliance on cash. This initiative is designed to enhance the merchant payment experience by providing secure, interoperable, and instant payment solutions. By leveraging Raast Person-to-Merchant (P2M) infrastructure, the collaboration will enable Askari Bank to onboard merchants through static QR codes powered by 1GO, offering a smooth and efficient payment process for businesses and customers alike.
The signing ceremony was attended by key leadership from both sides, including Ali Naqvi, Chief Digital Officer at Askari Bank Limited, and Muhammad Bashir Khan, Chief Commercial Officer at 1LINK, along with their respective teams. Both organizations emphasized their commitment to driving financial innovation and supporting the government’s vision of a digital economy.
Under this partnership, Askari Bank will facilitate merchants in accepting payments through Raast P2M by issuing static QR codes that can be scanned by customers from any participating bank or digital wallet in Pakistan. This solution not only ensures interoperability across the payment ecosystem but also simplifies transactions for small and large businesses by providing instant settlement and reducing the operational burden associated with cash handling.
The adoption of Raast P2M is expected to accelerate digital payment penetration in Pakistan. It offers merchants a low-cost, scalable payment acceptance channel, while customers benefit from instant, secure, and hassle-free payments. With QR-based payments gaining popularity globally, Pakistan’s financial sector is also witnessing growing momentum in this space, and partnerships like this play a critical role in driving adoption.
Officials from Askari Bank stated that this collaboration reflects their ongoing efforts to build a robust digital infrastructure and provide customers with modern, secure payment solutions. They highlighted that merchant digitization remains a cornerstone of the bank’s strategy to promote financial inclusion and support businesses in their digital transformation journey.
Leaders from 1LINK emphasized the significance of the 1GO Raast P2M solution as a game changer in enabling interoperable and scalable payment acceptance across the country. They noted that such initiatives strengthen the national payment ecosystem and bring Pakistan closer to its vision of becoming a digitally empowered economy.
As the use of digital financial services continues to expand, partnerships between banks and payment networks are becoming crucial in enabling secure and efficient payment solutions. The Askari Bank and 1LINK collaboration is a testament to how technology-driven initiatives can create new opportunities for merchants, enhance customer experiences, and build trust in digital financial transactions.
This step is expected to open doors for wider merchant participation, encourage cashless transactions at the grassroots level, and build the foundation for a more inclusive digital financial ecosystem in Pakistan.
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