KARACHI: Following the State Bank of Pakistan’s strategic vision toward digitalisation of financial system, Zindigi has become one of the first to adopt the Person to Merchant (P2M) initiative.
Zindigi, powered by JS bank, has empowered merchants nationwide with Raast P2M Merchants Payments Ecosystem and now all Zindigi app users can use their smartphones to pay any Raast P2M QR codes across Pakistan.
This strategic move reflects a significant leap towards a digitally inclusive economy. It’s not merely a service; it’s a testament to dedication to fostering a robust digital economy and contributing to the nation’s economic progress. Zindigi leads the way as the youngest financial institution with the largest merchant network on Raast P2M.
Key features of the Raast P2M ecosystem include open loop static & dynamic QR payments, request to pay (RTP), alias-based payments, instant/real-time merchant settlement and even till codes for customers who do not own smartphones.
The dispute resolution mechanism, supported by the SBP also ensures a robust framework for efficiently resolving disputes and Zindigi is there to support these comprehensive initiatives to bring the digital payments infrastructure to the masses.
Copyright Business Recorder, 2024
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