State of the art in the FinTech industry of Pakistan, PM Imran Khan, officially launches the Peer-to-Peer Raast Digital payments system.
You may be surprised to read that Raast doesn’t have any mobile App or USSD to make your payments. Instead, it provides backend services to link the different banking networks. In the past, there “Link Down” issue became usual when individuals transferred funds to another branch or bank account. Therefore Raast ID plays the role of Gateway for on the spot financial transactions.
Say “Good Bye” to Long IBANs
The noticeable feature of Raast is all you need is an existing Bank Account. And the payments can be made using your Registered Mobile Number with Bank. It makes complex internet banking reliable and easy for everyone.
In order to promote digitalization trust & accountability, this service is considered to be significant for the economic growth of Pakistan.
Raast Digital ID is a Gateway to send and receive your payments instantly without any charges.
Features of Raast
- Zero Service Fee
- Instant Payments
- Reliable & Protected
- Transfer As as much as you want
- 24/7 Always Active Customer Support
- Send Money without remembering the Long IBANs
1—Create via Internet Banking Apps
Regardless of the type of account you have. Raast Creation & Linking is nearly the same. Here are the steps:
- Open Bank App (Meezan, H.B.L., U.B.L. or any you use)
- Now Click on “Raast Payments”
- Then tap on Register Raast ID
- Select the account you want to Register with
- Enter OTP sent to your mobile number
- Congratulations! Your Raast ID is successfully created
2—How to create Via JazzCash Mobile App
Step 1: Open JazzCash Android/iOS App
Step 2: Log in to your account
Step 3: On My Account Section: Click on “Raast ID Management”
Step 4: Confirm your IBAN & Mobile Number, Then tap on “Create Raast ID”
Final Step: Your Raast ID is Created
3—How to create Via Easypaisa Mobile App
Step 1: Open Easypaisa App
Step 2: Click on “Raast ID Management”
Step 3: Now Tap on “Activate My Raast ID”
Step 4: Your Raast ID is Activated.
Activation for Other Channels:
The steps will remain the same as above with minor changes.
Make Payments Via Raast
- Open your Banking App
- Under Payments Section, Add New “Payee”
- Choose “IBAN” or “Mobile Number”
- Once the Payee is Added, Enter the Payment you wish to transfer
- Your Payment is transferred!
Initiatives like these can be the backbone for the country’s Economic Growth. Also, we added the answer to the questions running in your mind.
Still have any we welcome you to ask, we try our best to answer it.
State Bank of Pakistan: I.I. Chundrigar Road Karachi Pakistan.
Call at U.A.N.: 111-727-111
Email at: firstname.lastname@example.org
Frequently Asked Questions
Who can use Raast Services? or Can I use it without Bank Account?
Any Individual having Bank Account or Micro Finance Account can utilize the services.
What are the minimum and maximum transaction limits for Raast?
There is no specific threshold for Raast; however, the linked Bank limits apply.
Can I create multiple Raast IDs?
Yes, you can create more than 1 Raast ID, but only 1 I.D. can link with a single Bank Account.
Why need Raast if I already have a bank account?
Raast offers instant payments for multiple branch payments. You can save your waiting time using this service.
Can overseas Pakistani create the Raast Account?
Yes, if they have a Pakistani Bank Account. They can easily create a Raast ID for themselves.
Can I receive foreign remittances via a Raast Digital Account?
As of today, this service is available only for Pakistanis living in the country. But, in future, we hope that you can make foreign transactions using Raast.
How to de-active my Raast Digital ID?
Just open the App through which you created the I.D. Now Click on De-Link or De-Active to unbind the Raast with your Bank.
Which banks are offering Raast Services?
Most of the Commercial, Private & Government Banks serve Raast. You can check the partner list on the State Bank of Pakistan’s official website.