CDC, EClear Services expand services to advance digital payments through Raast

The Central Depository Company of Pakistan (CDC) and EClear Services are broadening their partnership to add Raast-based payments and investor identity checks for Pakistan’s capital market, Business Recorder reported on Monday. The new services build on CDC’s existing Raast Person-to-Person payments and static QR code facilities.

CDC says it is the first capital market institution to introduce Raast Person-to-Merchant payments and validation linking an IBAN with a CNIC. EClear is preparing to use Request to Pay Later and dynamic QR codes, alongside an application that automates debit and margin calls for brokers connected to its platform. The initiative uses the State Bank of Pakistan’s Raast infrastructure to support payment processes in the market.