What is Raast QR? A merchant's guide
Short answer: Raast QR is a payment QR code that runs on Raast, the State Bank of Pakistan's instant payment system. Customers can pay a Raast QR from any participating banking or wallet app, including Easypaisa and JazzCash, and the money moves bank-to-bank in real time.
Raast in one paragraph
Raast is Pakistan's instant payment system, owned and operated by the State Bank of Pakistan (SBP). It launched for bulk and person-to-person transfers first. In December 2023 the SBP launched Raast Person-to-Merchant (P2M), which lets businesses accept payments through QR codes, Request to Pay, IBAN and merchant aliases.
The two kinds of Raast QR
There are two QR codes on Raast, and they are easy to confuse.
P2P QR is tied to a person's IBAN. The SBP issued Pakistan's QR standard in March 2022, and account holders can generate a P2P QR in their bank app to receive money from friends and family.
P2M QR is built for businesses. It supports in-store payments, online checkouts and bill payments, and it comes in two forms: static (one code for every payment) and dynamic (a new code per transaction with the amount inside it). If you sell online, P2M dynamic QR is the one you want.
Which apps can pay a Raast QR?
Interoperability is the whole point. When it launched P2M, the SBP directed regulated entities to let customers read and scan Raast P2M QR codes in their mobile apps, internet banking and other channels by 1 March 2024. In practice that means a Raast QR can be paid from participating banking apps and from wallets such as Easypaisa and JazzCash. Easypaisa's own app listing advertises scan-and-pay with Raast QR.
For a merchant, this removes dependence on one wallet. If a customer has money in any participating app, they can pay you.
What does Raast QR cost?
Customers should not pay. The SBP's P2M instructions direct that customers are not charged a fee for paying merchants through Raast P2M.
For merchants, it depends on who provides the service. Some banks offer basic Raast P2M acceptance directly; Bank Alfalah, for example, currently states 0% MDR on the Raast scheme with a T+1 settlement cycle. Merchant service providers and payment platforms may charge a fee for what they add on top, such as dynamic QR generation by API, webhooks, payment links, reconciliation, faster settlement and payouts. Compare the full package, not only the rate.
How to start accepting Raast QR
- Decide static or dynamic. A single counter sticker works for walk-in shops. Websites, apps and social sellers need dynamic QR so amounts and orders match automatically. See static vs dynamic QR.
- Choose a provider. Your bank, or a payment platform that offers Raast P2M with an API.
- Complete onboarding. Expect KYB checks on your business, ownership and licensing.
- Integrate and test. Show the QR at checkout and confirm payments arrive in your system.
Raast QR with Qrix
Qrix by Settlix generates a dynamic Raast QR for every order, payable from Easypaisa, JazzCash or any participating bank app, with real-time webhooks, Link to Pay, payouts and settlement within one hour.
Frequently asked questions
Is Raast QR free for customers?
Yes. Under the SBP's Raast P2M instructions, customers should not be charged a fee for paying a merchant.
Can I pay a Raast QR with Easypaisa or JazzCash?
Yes. Participating wallets and banking apps, including Easypaisa and JazzCash, can scan and pay Raast QR codes.
What is the difference between Raast P2P QR and P2M QR?
P2P QR is linked to an individual's IBAN for personal transfers. P2M QR is designed for businesses and supports static and dynamic codes for in-store, online and bill payments.
When did Raast P2M launch?
The State Bank of Pakistan launched Raast P2M in December 2023.