In a major step towards advancing Pakistan’s digital payment ecosystem, PayFast, a State Bank of Pakistan-licensed fintech, and Askari Bank, one of the country’s leading commercial banks, have entered into a strategic partnership to roll out a white-label digital checkout solution powered by Raast.

The agreement was signed at Askari Bank’s Digital Innovation Lab at NSTP, NUST in Islamabad, setting the stage for a collaboration aimed at delivering secure, seamless, and customizable digital payments for businesses and consumers nationwide.

Raast at the Core of Innovation

At the heart of this partnership is Raast, Pakistan’s instant and interoperable payment system. By embedding Raast into the platform, the solution will enable faster, simpler, and more secure Person-to-Merchant (P2M) payments, while driving financial inclusion by expanding access to reliable digital transactions across retail, e-commerce, and service sectors.

Empowering Institutions and Consumers

Through this alliance, Askari Bank will leverage PayFast’s robust infrastructure to offer its customers and merchants a fully branded checkout experience. The platform will feature Raast-enabled digital merchant onboarding, an internet payment gateway, and e-invoicing, helping businesses streamline online payments and improve operational efficiency.

Adnan Ali, CEO of PayFast, said:

“This partnership reflects our commitment to local solutions for local needs. By integrating Raast into Askari Bank’s white-label platform, we are delivering secure and seamless payments under a trusted infrastructure—empowering institutions and creating lasting impact for businesses and consumers alike.”

Mahwish Saad Khan, Chief Business Officer at PayFast, added:

“This milestone strengthens our mission to provide institutions with modern digital infrastructure. By embedding Raast into the checkout experience, we are supporting Askari Bank in leading Pakistan’s payments innovation.”

Ali Naqvi, Chief Information Officer at Askari Bank, commented:

“With Raast-powered onboarding, e-invoicing, and internet payment solutions, we are not only strengthening Askari Bank’s digital footprint but also unlocking new opportunities for retail, wholesale, e-commerce, and services. This is more than technology—it’s empowerment, inclusion, and accelerated growth for Pakistan’s digital economy.”

Toward a Cashless Pakistan

This collaboration aligns with Prime Minister Shehbaz Sharif’s vision of a cashless, digitally empowered Pakistan, reinforcing the role of local financial institutions and fintechs in shaping a more inclusive and efficient economy.

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