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Raast, Pakistan’s revolutionary instant payment system, is transforming merchant/retailer payments through Raast IDs, IBANs, QR codes, and USSD.
To further accelerate Raast’s adoption, Karandaaz Pakistan with the support of State Bank of Pakistan (SBP) is piloting a program to onboard Tier 2 & 3 retailers onto the Raast platform. This initiative aims to establish a cashless ecosystem at retail outlets by addressing the challenges and barriers which the merchants face.
ADMAA Retail Enablement Services (Pvt.) Ltd., (A.R.E.S), a company with proven experience in digital financial inclusion of merchants and enabling them to accept payments through digital channels, has been selected to implement this Proof of Concept (POC).
ADMAA has been awarded a FOAK project to on-board mass-market Tier 2 and 3, retail merchants, onto the Raast Platform, and drive digital payment adoption at retail touch-points.
Deputy Governor of State Bank of Pakistan (SBP), Mr. Saleem Ullah was also present during the signing ceremony, along with the Karandaaz CEO and the Digital Public Infrastructure team.