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Raast (Urdu: راست; lit. ' direct ') is an instant payment system developed by the State Bank of Pakistan (SBP). [1] It operates using the state-of-the-art Pakistan Faster Payment System (PFPS), facilitating real-time settlement of small-value retail payments, including inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions. [2]
Online bill pay is an electronic payment service offered by many banks, credit unions and bill-pay services. It allows consumers to make various types of payments through a website or app, such as ...
Electronic bill payment is a feature of online, mobile and telephone banking, similar in its effect to a giro, allowing a customer of a financial institution to transfer money from their transaction or credit card account to a creditor or vendor such as a public utility, department store or an individual to be credited against a specific account.
2. In the left navigation menu, click My Wallet | select View My Bill. - The Billing Statement page will appear. 3. From the dropdown menu, select the time period you want to view. Note - You can print your statement by clicking on the Print Statement button.
In line with State Bank of Pakistan vision 2020 to enhance and promote financial inclusion, 1LINK launched Pakistan’s first domestic payment scheme – PayPak in April, 2016. [4] PayPak has 10% of market share in terms of volume of cards in the market. [5] While Visa has 40%, Mastercard and UnionPay have 25% each of market share. [5]
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PayPak (Urdu: پے پاک) is a domestic payment service available in Pakistan. [1] It was launched in 2016 by 1Link to save inter-change costs of International Payment Schemes. PayPak cards can only be used on ATMs, POS terminals, and online transactions within Pakistan. [2]
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