KARACHI: The State Bank of Pakistan (SBP) has announced that Raast services will remain unavailable for two days due to a pre-planned major system upgradation.

Raast services will not be available from 09:00 AM on 3rd September, till 12:00 AM on 4th September 2023, the SBP said.

Over 10mn customers sign up for SBP’s Raast payment service

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).

Copyright Business Recorder, 2023