Karachi, Pakistan, March 24, 2025 – In a significant move to drive digital transformation in Pakistan’s payment ecosystem, Paysys Labs Pvt Ltd and Allied Bank Limited have announced a strategic partnership to enable RAAST MSP/P2M services. This collaboration is set to transform the landscape of digital payments in the country by providing secure, efficient, and seamless transactions for merchants and consumers alike.
The partnership will empower Allied Bank Merchants with advanced RAAST QR MSP/P2M payment services, facilitating faster, cashless, and hassle-free transactions. With this collaboration, Allied Bank will be able to offer its customers a highly secure and efficient means of processing payments, contributing to Pakistan’s growing digital financial ecosystem. By focusing on providing simple and accessible payment solutions, the partnership aims to enhance financial inclusion, streamline financial services, and support the country’s ongoing push towards a fully digital economy.
Karim Jindani, Chief Executive Officer of Paysys Labs, expressed his enthusiasm about the collaboration, emphasizing the role of innovation in advancing Pakistan’s fintech sector. “This partnership underscores Paysys Labs’ commitment to driving innovation in the fintech world. At Paysys, we strive to enhance digital payment ecosystems with advanced solutions. By enabling RAAST QR MSP/P2M services, this collaboration will provide a seamless and secure payment experience, fostering greater financial inclusion across Pakistan,” said Jindani. His words highlight the shared vision of both companies in using technology to facilitate secure and accessible financial services for all, particularly focusing on improving the user experience for both merchants and consumers.
The RAAST (Real-Time Automated Payment System) is a groundbreaking initiative by the State Bank of Pakistan, designed to streamline digital payments, allowing for faster, more efficient, and secure transactions across the country. Through the integration of RAAST’s MSP/P2M services, consumers and businesses will be able to make payments and transfers in real time, enhancing the overall efficiency of the financial system.
The collaboration between Paysys Labs and Allied Bank is also a major step toward enhancing the country’s financial infrastructure by fostering the adoption of digital payments across various sectors. This move is especially crucial as Pakistan continues to move towards greater financial inclusion, reducing reliance on cash transactions, and providing businesses of all sizes with easy access to the tools they need to thrive in a competitive digital economy.
Paysys Labs, based in Pakistan, has become a leader in the payment technology space, offering a range of digital payment solutions including mobile wallets, digital payment systems, and more. The company is known for its innovative and secure approach to payment solutions, focusing on making financial transactions faster, more reliable, and secure. By providing cutting-edge payment technologies, Paysys Labs is helping businesses navigate the complexities of digital transactions while delivering enhanced experiences for customers.
Allied Bank Limited, a well-established financial institution in Pakistan, is dedicated to offering innovative banking services that cater to the diverse needs of its customers. The bank’s services span consumer banking, corporate banking, and digital banking, with a particular focus on providing secure, efficient, and personalized financial solutions. Through this partnership, Allied Bank continues to demonstrate its commitment to embracing technology and meeting the evolving needs of its customers in an increasingly digital world.
This partnership between Paysys Labs and Allied Bank is poised to significantly impact Pakistan’s financial landscape. It will not only simplify transactions for both businesses and consumers but also contribute to the ongoing shift towards a cashless society in the country. With this new service, the two companies are taking a major step forward in fostering a more inclusive, efficient, and secure digital payments ecosystem in Pakistan.
As digital transformation continues to shape the financial sector, collaborations like this one will play a pivotal role in ensuring that Pakistan remains at the forefront of fintech innovation. This partnership is a clear reflection of the growing importance of secure and seamless payment solutions in today’s fast-paced, tech-driven economy.
For more information on Paysys Labs and its services, visit www.paysyslabs.com.