PayFast, a fintech licensed by the State Bank of Pakistan, has joined hands with Askari Bank to introduce a white-label checkout solution powered by Raast, the country’s instant and interoperable payment system. This collaboration reflects a shared vision of making digital transactions in Pakistan simpler, faster, and more inclusive.
The agreement was signed at Askari Bank’s Digital Innovation Lab, NSTP, NUST in Islamabad. The newly launched solution is designed to provide businesses and consumers with a secure and customizable checkout experience, further advancing Pakistan’s digital commerce ecosystem.
With this initiative, Askari Bank will harness PayFast’s cutting-edge infrastructure to roll out a fully branded digital payment gateway. Beyond strengthening Askari Bank’s digital presence, the solution will improve operational efficiency and accelerate the adoption of digital payments across e-commerce, retail, and service sectors.
At the center of this innovation is Raast, which enables account-based Person-to-Merchant (P2M) transactions. Its integration will ensure greater reliability, convenience, and trust in digital payments while creating new opportunities for financial inclusion across the country.
Speaking at the ceremony, Adnan Ali, CEO of PayFast, noted:
“Our partnership with Askari Bank is built on a commitment to empower institutions with scalable, trusted digital infrastructure. By embedding Raast into this white-label platform, we aim to give businesses and consumers seamless access to secure payments under a trusted brand identity.”
Mahwish Saad Khan, Chief Business Officer at PayFast, added:
“This milestone underscores our role in supporting Pakistan’s transition to digital finance. With Raast at the core of the checkout experience, we are enabling Askari Bank to enrich its digital offerings and strengthen its role in shaping the payments ecosystem.”
Ali Naqvi, Chief Information Officer at Askari Bank, highlighted the bank’s broader vision:
“Our white-label solution brings together Raast digital merchant onboarding, internet payment gateway services, and e-invoicing. It represents more than technology—it reflects a path toward inclusion, innovation, and accelerated economic growth for Pakistan.”
By combining PayFast’s fintech expertise with Askari Bank’s nationwide reach, this partnership sets the stage for a stronger digital economy, aligned with Pakistan’s vision of a cashless and financially inclusive future.
