PayFast and Askari Bank Join Forces to Drive Digital Payment Innovation in Pakistan

In a strategic step towards enhancing the digital financial landscape of Pakistan, PayFast, a State Bank of Pakistan-licensed fintech, and Askari Bank, one of the country’s leading commercial banks, have signed a partnership agreement to launch a white-label checkout solution that makes use of Raast for easier payments.

The signing ceremony, held at Askari Bank’s Digital Innovation Lab at NSTP, NUST in Islamabad, marks the beginning of a forward-looking collaboration aimed at delivering secure, customizable, and seamless digital payment experiences to businesses and consumers nationwide.

Through this partnership, Askari Bank will leverage PayFast’s robust infrastructure to offer its customers and merchants a fully branded digital checkout solution. Designed to streamline online payments and improve operational efficiency, the solution also reinforces the Askari Bank’s digital identity in Pakistan’s rapidly growing e-commerce and services sectors.

At the core of this collaboration is Raast—Pakistan’s instant and interoperable payment system. By embedding Raast-enabled account-based transactions, the platform will make Person-to-Merchant (P2M) payments simpler, faster, and more secure, while also driving financial inclusion by giving more businesses and individuals access to reliable digital payment options.

This initiative supports Prime Minister Shehbaz Sharif’s vision of a cashless Pakistan, aimed at creating a more inclusive, efficient, and digitally empowered economy.

Adnan Ali, CEO of PayFast, stated: “This partnership with Askari Bank reflects our commitment to local solutions for local needs. By enabling Raast within this white-label platform, Askari Bank can deliver secure, seamless digital payments under its own brand—built on trusted infrastructure. Therefore, empowering institutions and create lasting impact for businesses and consumers alike”

Mahwish Saad Khan, Chief Business Officer at PayFast, added: “This partnership is an important milestone in our journey to empower institutions with modern digital infrastructure. By integrating Raast into the checkout experience, we are proud to support Askari Bank as it expands its digital offerings and plays a leading role in strengthening Pakistan’s payments ecosystem.”

Ali Naqvi, Chief Information Officer, at Askari Bank, stated: “With our white-label application featuring Raast digital merchant onboarding, an internet payment gateway and e-invoicing, we are not only strengthening Askari Bank’s digital footprint but also opening new frontiers in retail, wholesale, e-commerce and services. This is more than a technological leap; it is the promise of empowerment, inclusion and accelerated growth for all who participate in elevating Pakistan’s digital economy.”

This alliance underscores both institutions’ commitment to accelerating the adoption of Raast-based digital payments and advancing Pakistan’s transition toward a more inclusive, efficient, and cashless economy.