Mashreq, a leading financial institution in the MENA region, has launched Pakistan’s first digital bank offering a full suite of Raast services, including Raast Person-to-Merchant (P2M) payments. Launched in August 2026, the service lets merchants receive instant payments via Raast QR codes, while customers can scan and pay through Mashreq’s digital banking channels. The service supports transactions between customers of any Raast-enabled bank and merchants, enhancing convenience across Pakistan’s banking ecosystem.

Mashreq’s Raast P2M offering covers a variety of businesses, including grocery stores, restaurants, and e-commerce merchants, allowing sole proprietors to open a Mashreq NEOBiz account to accept digital payments. CEO Muhammad Hamayun Sajjad emphasized the need to shift focus from access to adoption, making digital payments a practical part of everyday commerce. Ahson Bin Saeed, CEO of Raast Payments Pakistan, highlighted the importance of building a national payments infrastructure that fosters innovation.

The initiative aligns with the State Bank of Pakistan’s goal of creating an inclusive payments landscape despite the challenges of digital transformation. Mashreq plans to launch customer and merchant incentive programs, including cashback offers, as well as Request-to-Pay capabilities for a seamless e-commerce experience. Built on modern architecture compliant with international standards, Mashreq’s Raast platform aims to enhance interoperability, security, and adaptability in Pakistan’s evolving digital payments ecosystem.