Mashreq Pakistan Expands Raast Payments for Customers and Businesses
KARACHI, September 18, 2026: Mashreq Pakistan has become the first newly launched digital bank in the country to offer the full suite of Raast services, including Raast Person-to-Merchant (P2M) payments, allowing both customers and businesses to make and receive instant digital payments.
Launched in August 2026, the new service enables merchants to accept instant payments through Raast QR codes, while customers can scan and pay through Mashreq’s digital banking channels.
The service also supports interoperability across Pakistan’s banking ecosystem. Customers using any Raast-enabled bank can make payments to Raast-enabled merchants, providing greater convenience for businesses and consumers.
Raast Payments Expanded for Businesses
Mashreq’s Raast P2M service is designed for businesses across a wide range of sectors, including grocery stores, restaurants, retail outlets, service providers and e-commerce businesses.
Sole proprietors and self-employed professionals can also open a Mashreq NEOBiz account and register as Raast P2M merchants, giving smaller businesses access to account-based digital payment acceptance.
Muhammad Hamayun Sajjad, CEO of Mashreq Pakistan, said the country’s digital payments ecosystem is moving from expanding access toward increasing adoption.
He said enabling customers to make digital payments while allowing merchants to accept them seamlessly is essential for achieving greater scale.
According to Sajjad, Mashreq’s unified Raast ecosystem is aimed at making instant payments part of everyday commerce while supporting Pakistan’s transition toward a more digitally connected and cashless economy.
Focus on National Digital Payments Infrastructure
Ahson Bin Saeed, CEO of Raast Payments Pakistan, described the development of national payment infrastructure as an evolving process.
He said Pakistan’s Raast system is progressing toward broader participation, stronger infrastructure and more accessible payment experiences for consumers and businesses.
Muhammad Imad Uddin, Director of the Digital Innovation & Settlements Department at the State Bank of Pakistan, said developing an inclusive and connected digital payments ecosystem requires both regulatory and technological foundations.
He added that adoption across the wider ecosystem remains an important measure of progress and that initiatives such as Mashreq’s Raast P2M rollout can translate payment infrastructure into practical solutions for businesses and consumers.
Cashback and Request-to-Pay Features Planned
Mashreq said the Raast launch is part of its wider strategy to increase digital payment adoption and expand merchant acceptance in Pakistan.
The bank plans to introduce customer and merchant incentive programs, including cashback offers, rewards and promotional campaigns across selected merchant categories.
As part of its future Raast roadmap, Mashreq also intends to introduce Request-to-Pay capabilities for online and e-commerce merchants. The feature is expected to allow customers to authorize payments through Raast while giving businesses a digital collections mechanism.
ISO 20022-Compliant Digital Architecture
Mashreq said its Raast platform has been built on a modern digital architecture that is natively compliant with ISO 20022 messaging standards and aligned with international SWIFT standards.
The architecture is designed to support interoperability, transparency and security while providing flexibility as Pakistan’s digital payments ecosystem continues to develop.
Through the expansion of its Raast services, Mashreq aims to increase access to instant and interoperable payments for customers and merchants across Pakistan and contribute to the growth of the country’s digital economy.