EClear first on PSX to adopt Raast Request to Pay Later
EClear will roll out Request to Pay Later and Dynamic QR on the State Bank’s Raast network, building on CDC’s existing P2P, Static QR and IBAN-CNIC tools.
CDC and EClear are expanding digital payment and investor verification services in Pakistan’s capital market via the State Bank’s Raast system.
EClear is set to be the first stock-market institution to adopt Raast Person-to-Merchant Request to Pay Later and Dynamic QR Code payments.
The move builds on CDC’s existing Raast Person-to-Person, Static QR Code and IBAN-CNIC validation services under its Raast Aggregator framework.
Brokers linked to EClear could automate debit and margin calls, cutting manual payment collection.
CDC CEO Badiuddin Akber said CDC was the first capital-market body to connect to Raast and used bulk payments for eDividend in 2021.