SBP Grants NBP Commercial Approval for Raast P2M Payments Rollout.
NBP Raast P2M approval
The National Bank of Pakistan (NBP) has officially received approval from the State Bank of Pakistan (SBP) for the commercial rollout of Raast Person-to-Merchant (P2M) Acquiring. This milestone marks a significant leap in NBP’s digital transformation and reinforces the national “Cashless Pakistan” vision by enabling seamless, real-time payments between consumers and businesses.
The Raast P2M Revolution
- Commercial Readiness: The SBP’s approval allows NBP to onboard merchants and process retail transactions via the Raast instant payment system, significantly reducing the cost of digital payments for small businesses.
- Strategic Collaboration: The rollout was formalized following a high-level meeting between Mr. Muhammad Imaduddin (Director, SBP) and Mr. Adnan Nasir (Chief Digital Officer, NBP), alongside the technical teams that spearheaded the integration.
- National Impact: By leveraging Raast’s zero-cost or low-cost infrastructure, NBP aims to bring millions of unbanked and under-banked micro-merchants into the formal digital economy.
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