SBP offers P2M under RAAST
KARACHI: The central bank of Pakistan has officially launched the online person-to-merchant (P2M) payment option in its domestic and direct payment system. Raast, a leap towards reducing the use of cash and digitizing and documenting the domestic economy. P2M allows users to pay merchants directly for shopping, food and pay monthly utility bills via Quick Response (QR) code. In a notification to all regulated entities (REs), including scheduled banks, microfinance banks (MFBs), electronic money institutions (EMIs), payment system operators (PSOs) and payment service providers (PSPs), the State Bank of Pakistan (SBP) said, “The P2M service will allow accepting payments from


