Raast
Pakistan's First Instant Payment System
“Raast is Pakistan’s first instant payment system that will enable end-to-end digital payments among individuals, businesses and government entities instantaneously. The state-of-the-art Pakistan’s Faster Payment System will be used to settle small-value retail payments in real time while at the same time provide a cheap and universal access to all players in the financial industry including commercial banks, microfinance banks, government entities and fintechs (EMIs & PSPs).
Pakistan has had low electronic transactions for a number of reasons including low banking penetration, lack of trust and awareness of digital payment methods, limited interoperability, difficult accessibility and high cost of transactions. The Real Time Gross Settlement System (RTGS) of Pakistan provides instant payment settlements for large value and corporate transactions only. Raast: Pakistan’s Instant Payment System will facilitate retail payment settlements with much great efficiency.
Raast aims to address some key industry challenges within the payment ecosystem”
Features
- Transfer Funds Free of Cost to any Raast ID (Mobile Number) & IBAN
- Link your mobile number with your Bank Account
- Real Time Transfer
User Guide
RAAST ID Creation:
Step 1: Sign into your Soneri Digital
Step 2: Go to ‘Menu’ and tap on ‘RAAST ID Management’
Step 3: Select account that you want to link from ‘Choose Account’ dropdown and tap on ‘Set Up raast ID’
De-Link RAAST ID
Step 1: Sign into your Soneri Digital
Step 2: Go to ‘Menu’ and tap on ‘RAAST ID Management’
Step 3: Select ‘De-Link Your Account’ and click on ‘Yes, De-Link My Account’
Re-Link RAAST ID
Step 1: Sign into your Soneri Digital
Step 2: Go to ‘Menu’ and tap on ‘RAAST ID Management’
Step 3: Select account that you want to re-link from ‘Choose Account’ dropdown and tap on‘Set Up raast ID’