Mashreq Pakistan has launched a comprehensive Raast payments ecosystem for customers and merchants, including Raast Person-to-Merchant (P2M) payments, expanding instant digital payment acceptance across Pakistan.
Launched in August 2026, the service allows merchants to receive instant payments through Raast QR codes, while customers can scan and pay through Mashreq’s digital banking channels. Customers of other Raast-enabled banks can also pay participating merchants, supporting interoperability across the banking ecosystem.
Raast P2M Targets Businesses
Mashreq’s Raast P2M service is available to businesses including grocery stores, restaurants, retailers, service providers and e-commerce merchants. Sole proprietors and self-employed professionals can also open Mashreq NEOBiz accounts and register as Raast P2M merchants.
Muhammad Hamayun Sajjad, CEO, Mashreq Pakistan, said: “Pakistan’s digital payments ecosystem is entering an important phase where the focus must shift from access to adoption. Achieving scale requires a holistic approach that enables customers to pay digitally and merchants to seamlessly accept digital payments at the same time. By launching a unified Raast payments ecosystem for both customers and merchants, Mashreq is helping make instant payments a practical part of everyday commerce.”
Incentives and New Payment Features Planned
Mashreq said it plans to introduce cashback, rewards and promotional campaigns across key merchant categories. It also intends to add Request-to-Pay capabilities for online and e-commerce merchants, allowing customers to authorize payments through Raast.
The bank said its Raast platform is built on digital architecture compliant with ISO 20022 messaging standards and aligned with international SWIFT standards, supporting interoperability, transparency and security.
The launch is part of Mashreq’s broader strategy to expand merchant acceptance and digital transactions in Pakistan.