# Pakistan — payment codes and schemes

> Source: https://docs.barcoder.ai/docs/payments/PK
> extracted at 2026-10-03
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

## Summary

- **Raast** is the national instant payment system (SBP)
- **PKR 44 trillion** in 1.9 billion transactions processed
- **Raast P2M QR** launched December 2023
- **PKR 3.5 billion** subsidy for merchant QR adoption (2025-2026)
- **All merchants** required digital payment by October 31, 2025

## Banking landscape

### Central Bank
- **Name:** State Bank of Pakistan (SBP)
- **Website:** https://www.sbp.org.pk/
- **Role:** Monetary policy, Raast oversight

### Major Banks (2024)

| Rank | Bank Name | Type | Digital Platform |
|------|-----------|------|------------------|
| 1 | Habib Bank Limited | Private | HBL Mobile |
| 2 | National Bank of Pakistan | State | NBP Digital |
| 3 | United Bank Limited | Private | UBL Digital |
| 4 | MCB Bank | Private | MCB Mobile |
| 5 | Allied Bank | Private | myABL |

### Market Structure
- **State banks:** NBP, Bank of Punjab
- **Private leaders:** HBL, UBL, MCB, Allied
- **Raast Payments Pakistan:** SBP subsidiary (2024-25)
- **Digital wallets:** JazzCash, Easypaisa, NayaPay

### Raast Payments Pakistan (Pvt) Ltd
- Established FY 2024-25
- Wholly owned SBP subsidiary
- Manages instant payment platform
- Ensures operational agility

---

## Payment infrastructure

### National Payment Systems

| System | Operator | Type | Status |
|--------|----------|------|--------|
| Raast | SBP/Raast Payments | Instant payment | Active |
| PRISM+ | SBP | Real-time settlement | Active |
| 1LINK | 1LINK (Pvt) Ltd | ATM/Switch | Active |
| PayPak | 1LINK | Local card scheme | Active |

### Raast Statistics
- **1.9 billion transactions**
- **PKR 44 trillion** processed
- First trillion: 360 days
- Now: 1 trillion every 9 days

### Raast Components

| Service | Description | Launch |
|---------|-------------|--------|
| P2P | Person-to-person | 2021 |
| Bulk | Government/business | 2021 |
| P2M | Person-to-merchant QR | Dec 2023 |

---

## QR code standards

### Raast P2M QR

| Attribute | Value |
|-----------|-------|
| **Launch** | December 2023 |
| **Operator** | SBP |
| **Channels** | QR Code, Raast Alias, IBAN, RTP |
| **Banks Live** | 25 banks (May 2024) |

### Raast QR Features
- Instant digital payments
- Multiple payment channels
- Request to Pay (RTP)
- Raast Alias addressing
- IBAN-based QR

### Government Subsidy Program (2025-2026)
- **PKR 3.5 billion** in subsidies
- September 2025 to June 2026
- Three-year program
- Merchant adoption incentive

### Merchant Mandate (October 2025)
- All existing merchants by October 31, 2025
- Must adopt digital payment solution
- Raast QR code
- POS systems
- E-commerce gateways

---

## Mobile payment apps

| App | Provider | Raast | QR | Users |
|-----|----------|-------|-------|-------|
| JazzCash | Jazz | Yes | Yes | 40M+ |
| Easypaisa | Telenor | Yes | Yes | 30M+ |
| NayaPay | NayaPay | Yes | Yes | Growing |
| Bank Apps | Various | Yes | Yes | Widespread |

### JazzCash
- Largest mobile wallet
- Raast integrated
- QR payments
- P2P transfers

### Easypaisa
- Second largest wallet
- Raast connectivity
- Merchant payments
- Bill payments

### NayaPay Cross-Border (2024)
- Integrated with Alipay
- QR-based payments in China
- Cross-border interoperability

---

## Schemes

| Scheme | Type | Symbology | Adoption | Technical standard |
|---|---|---|---|---|
| [Raast P2M QR](https://docs.barcoder.ai/docs/payments/PK/raast-p2m-qr) | Payment QR | SBP | 25 banks | [`raast-p2m-qr`](https://docs.barcoder.ai/docs/standards/raast-p2m-qr) |
| [Raast P2P](https://docs.barcoder.ai/docs/payments/PK/raast-p2p) | Instant transfer | SBP | Universal | — |
| [PayPak](https://docs.barcoder.ai/docs/payments/PK/paypak) | Card scheme | Local | Growing | — |

## Sources

- [SBP - Raast Overview](https://www.sbp.org.pk/dfs/Raast.html)
- [SBP - Raast P2M](https://www.sbp.org.pk/dfs/Raast-P2M.html)
- [Profit - Raast P2M Launch](https://profit.pakistantoday.com.pk/2023/12/06/sbp-launches-raast-p2m-service-to-facilitate-digital-payment-acceptance/)
- [PK Revenue - Raast P2M](https://pkrevenue.com/state-bank-of-pakistan-launches-raast-person-to-merchant-service-to-boost-digital-payments/)
- [INP - SBP Digital Finance 2024-25](https://www.inp.net.pk/article-detail/inp-wealthpk/sbp-modernizes-digital-finance-through-raast-payments-prism-in-2024-25)
- [Tribune - Raast P2M](https://tribune.com.pk/story/2449177/sbp-offers-p2m-under-raast)
- [TechJuice - Raast PayPak Expansion](https://www.techjuice.pk/sbp-expands-raast-paypak-to-reduce-foreign-payment-reliance/)
- [Profit - Government Raast by FY26](https://profit.pakistantoday.com.pk/2025/10/03/sbp-to-route-all-government-payments-through-raast-by-end-of-fy26/)
- [Profit - Merchant Digital Mandate](https://profit.pakistantoday.com.pk/2025/07/26/sbp-introduces-new-customer-onboarding-framework-mandates-digital-payment-solutions-for-merchants/)
- [TechX - Raast P2M](https://techx.pk/raast-person-to-merchant-p2m-service-has-launched-by-sbp/)

## Full country report

[PK-pakistan.md](https://docs.barcoder.ai/docs/payments/PK)