Pakistan’s instant digital payment system RAAST has crossed a major milestone by processing transactions worth more than Rs80 trillion since its launch, reflecting the rapid pace at which digital payments are reshaping the country’s financial landscape. Officials shared these figures with the Prime Minister during a meeting of the RAAST Board, noting that the platform has completed over 3 billion transactions to date, underlining its growing role in everyday financial activity across the country.
During the meeting, the Prime Minister described RAAST as a cornerstone of Pakistan’s drive toward a cashless economy and broader financial inclusion. He stressed that as usage continues to expand, the system’s operational capacity, governance and management must be strengthened on an ongoing basis to ensure reliability, security and scalability. According to officials, the number of RAAST users has now exceeded 48 million, while 53 financial institutions, including banks and payment service providers, are connected to the platform nationwide.
RAAST, which operates under the State Bank of Pakistan, was designed to provide citizens and businesses with a fast, low-cost and secure way to transfer money instantly. Since its rollout, the platform has increasingly been adopted for person-to-person payments, bill payments and merchant transactions, gradually reducing reliance on cash. Officials told the Prime Minister that this steady rise in volumes reflects growing public trust in digital payment channels and improved access to formal financial services.
The Prime Minister directed relevant authorities to intensify efforts to bring traders, small businesses and entrepreneurs onto the RAAST platform. He said wider merchant adoption would not only make digital payments more convenient for consumers but also improve transparency, documentation and efficiency within the economy. Greater use of RAAST at the retail and business level, he noted, could help strengthen public confidence in digital transactions while supporting policy goals related to financial inclusion and formalisation.
Officials also briefed the meeting on the governance structure of RAAST, explaining that while the platform operates under the State Bank of Pakistan, it is overseen by a board largely composed of private-sector professionals selected for their technical and industry expertise. This structure, they said, is intended to ensure that the system remains responsive to market needs while adhering to strong regulatory and risk management standards.
Looking ahead, authorities outlined the long-term vision for RAAST, which includes migrating government-to-business and business-to-government payments onto the platform. This shift is expected to streamline public sector payments, reduce processing costs and ensure secure and transparent fund flows between the state and private entities. Officials said such integration would further expand RAAST’s footprint and embed digital payments more deeply into Pakistan’s economic infrastructure.
The meeting was attended by Federal Minister for Finance Muhammad Aurangzeb, Minister for Information and Broadcasting Attaullah Tarar, Minister for Economic Affairs Ahad Khan Cheema, Minister for Information Technology Shaza Fatima Khawaja, Minister of State for Finance Bilal Azhar Kiyani, the Governor of the State Bank of Pakistan, members of the RAAST Board, the platform’s chief executive officer and other senior government officials.
As Pakistan continues to push forward with digital transformation, RAAST’s performance highlights both the scale of demand for instant payments and the importance of sustained investment in digital financial infrastructure. With transaction volumes and user numbers continuing to rise, policymakers see the platform as a key enabler of a more inclusive, transparent and efficient financial system in the years ahead.
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