About
Raast is Pakistan's national instant payment system, developed by the State Bank of Pakistan (SBP) and operated by its wholly owned subsidiary Raast Payments Pakistan. Bulk payments went live on 11 January 2021 and person-to-person transfers in February 2022. Users link their IBAN to their mobile number as a Raast ID and pay from participating banks, microfinance banks and wallets such as easypaisa and JazzCash, with funds credited within 20 seconds and free to customers. A person-to-merchant layer added QR codes and request-to-pay in December 2023. SBP reported 742.1 million Raast transactions worth PKR 23.3 trillion in January to March 2026.
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