Raast for Business: Instant Payments in Pakistan
Raast for business explained: how Raast ID, Raast P2M and QR payments work in Pakistan, limits and fees to check, and how to put Raast details on your invoices.
Quick answer: Raast is the State Bank of Pakistan's instant payment system. It moves rupees between bank and wallet accounts in seconds, 24/7, using an IBAN, a Raast ID (your mobile number) or a merchant QR code. For business, Raast P2M lets customers pay you by scanning a QR or approving a request to pay, and money lands immediately.
This guide explains how a Raast payment works for a business, the difference between Raast P2P and Raast P2M, what to check about limits and fees, and how to show your Raast details on a sales invoice. You can add them to any invoice in our Pakistan invoice generator. The generator creates invoice PDFs only; payment always happens through your bank or wallet.
What is Raast?
Raast (which means "direct" in Urdu) is Pakistan's national instant payment system, built and operated by the State Bank of Pakistan. It connects banks, microfinance banks and electronic money institutions so that a transfer from one to another settles in real time, at any hour, including weekends and holidays. It was rolled out in phases:
| Phase | What it added | When |
|---|---|---|
| Bulk payments | Bulk credits such as salaries and government payments | From January 2021 |
| Person-to-person (P2P) | Instant transfers between individuals using IBAN or Raast ID | From early 2022 |
| Person-to-merchant (P2M) | QR codes, request to pay, merchant alias and IBAN payments to businesses | Formally launched December 2023; banks required to enable P2M from March 2024 |
Dates are based on SBP announcements and press reports; check the SBP website for the latest Raast circulars.
What is a Raast ID?
A Raast ID is an alias that points to your bank account so people can pay you without typing a 24-character IBAN. For individuals, the Raast ID is your mobile number, linked through your bank's app to one account. When someone pays your Raast ID, the system looks up the linked account and shows your name before they confirm, which helps catch mistakes.
For a business, you have three ways to be paid through Raast:
- IBAN of your business account. Always works with any participating institution.
- Raast ID (mobile number alias), common for sole proprietors and freelancers.
- Merchant alias or QR code under Raast P2M, issued through your bank or payment provider for business accounts.
Raast P2M: merchant payments and QR
Raast P2M (person-to-merchant) is the business side of Raast. Under the SBP's framework, customers can pay merchants through:
- Static QR, a fixed code you display at a counter or print on an invoice. The customer scans it and types the amount.
- Dynamic QR, generated for a specific sale with the amount and reference built in.
- Request to pay (RTP), where you send a payment request that the customer approves in their app.
- Merchant alias or IBAN payments.
Because Raast QR codes are interoperable, a customer of any participating bank or wallet should be able to pay a QR issued by another. That is the main advantage over closed-loop wallet QRs.
Static QR, dynamic QR or request to pay: which should you use?
| Option | Amount entered by | Reference | Good for |
|---|---|---|---|
| Static QR | Customer | Customer must type it | Shops, counters, printed invoices for repeat customers |
| Dynamic QR | Built into the code | Built into the code | Point-of-sale systems, online checkout, exact invoice amounts |
| Request to pay | You, in the request | Included in the request | Invoices to known customers, deposits, follow-ups on overdue bills |
For service businesses that invoice clients, a static QR or Raast ID on the invoice is the easiest start. If your bank or payment provider supports request to pay for your account, it works like a digital payment reminder: the customer receives a request for the exact invoice amount and approves it in their app, so there is no risk of a mistyped amount or missing reference.
Who benefits most from Raast P2M?
- Retailers and restaurants that want instant, interoperable QR acceptance without card terminals.
- Freelancers and agencies billing local clients, who want same-minute confirmation instead of waiting for cheques to clear.
- Distributors and wholesalers collecting from many small shops, where QR and request to pay reduce cash handling.
- Tutors, clinics and service providers collecting regular fees from households.
How a Raast payment works for an invoice
- Enable Raast on your business account and ask your bank for P2M (QR or merchant alias) if you sell to the public.
- Issue the invoice with your IBAN, Raast ID or QR code and the invoice number as the payment reference.
- The customer pays from their banking or wallet app by entering your Raast ID, scanning your QR or approving your request.
- The app shows your registered account name; the customer confirms.
- Funds arrive in seconds and both sides receive a transaction ID.
- You reconcile by matching the transaction ID and amount to the invoice, then issue a payment receipt if asked.
Raast vs IBFT vs mobile wallets
| Method | Speed | Identifier | Best for |
|---|---|---|---|
| Raast | Seconds, 24/7 | IBAN, Raast ID, merchant QR or alias | Domestic B2B and B2C invoices, counter sales |
| IBFT (interbank funds transfer) | Usually fast, channel-dependent | Account number or IBAN | Customers whose app does not show Raast clearly |
| Mobile wallet transfer | Fast | Wallet number | Customers who keep balances in a wallet |
| Cheque or pay order | Days | Paper instrument | Large corporate or government payers that still require it |
Pricing for IBFT and wallet transfers is set by each provider and can change, so compare your own bank's schedule of charges.
Raast limits and fees to check
SBP rules set a framework, but each bank applies its own limits by account type and customer risk profile. Before you rely on Raast for larger invoices, check:
- Per-transaction and daily limits on your account and typical limits on your customers' accounts. Customers may be able to raise limits in their app.
- Merchant fees on Raast P2M payments, if any, and how they are deducted.
- Incentive schemes. A government-funded incentive for Raast P2M QR transactions ran from 1 September 2025 to 30 June 2026. Ask your bank whether any successor scheme applies.
- Settlement and statements: how the payer's name and reference appear, so you can reconcile.
Worked example: a deposit and balance paid by Raast
A Lahore design studio quotes PKR 85,000 for a branding project with 40% upfront and the balance on delivery.
| Invoice | Calculation | Amount | Payment |
|---|---|---|---|
| INV-2026-031 (deposit) | PKR 85,000 x 40% | PKR 34,000 | Paid via Raast QR on the invoice, transaction ID recorded |
| INV-2026-038 (balance) | PKR 85,000 - PKR 34,000 | PKR 51,000 | Paid via Raast ID on delivery |
| Total received | PKR 34,000 + PKR 51,000 | PKR 85,000 | Both credits visible in seconds |
If the studio is registered for sales tax on services, provincial sales tax would be added to each invoice and shown separately; the Raast payment simply settles the total. For billing in stages, see our guides to the deposit invoice and milestone payments.
How to put Raast details on your invoice
In the payment section of the invoice, include:
- Account title exactly as registered, bank name and IBAN. See bank details on an invoice for layout.
- Your Raast ID or merchant alias, and a printed Raast QR if your bank issued one.
- "Please quote invoice number INV-2026-038 as the payment reference."
- Due date and amount in PKR.
- A warning: "Our account details will never change by WhatsApp or email. Call us to confirm any change."
If you issue tax invoices, keep the NTN, STRN and other mandatory fields described in our guide to the sales tax invoice in Pakistan. Larger sellers integrated with FBR systems have extra requirements covered in FBR e-invoicing, and recent changes are summarised in Finance Act 2026 Pakistan sales tax changes. Note that an FBR verification QR and a Raast payment QR are different codes with different purposes.
Is Raast safe for business payments?
Raast runs inside the regulated banking system, shows the payee's registered name before the payer confirms, and settles through the State Bank. The main risks are human ones:
- Fake payment screenshots. Always check the credit in your own app before handing over goods.
- Account-change scams. Fraudsters send messages claiming your account has changed. See invoice scam warning signs.
- Wrong-account payments. Instant and final, so ask customers to check the name shown.
- Phishing. Never share OTPs or app PINs, even with someone claiming to be from your bank.
Common mistakes when accepting Raast payments
- Printing a personal Raast ID on business invoices when the payments should go to a business account.
- Not asking customers for the invoice number as a reference.
- Releasing goods on a screenshot instead of a confirmed credit.
- Assuming foreign clients can pay through Raast.
- Not checking whether your customers' limits cover large invoices.
Raast for business checklist
- Raast enabled on the business account; P2M QR or alias requested if needed.
- Limits and merchant fees confirmed with your bank.
- Invoice shows account title, IBAN, Raast ID or QR and a payment reference.
- Account-change warning printed on the invoice.
- Transaction IDs recorded against each invoice.
- Separate method arranged for international clients.
Next step: add Raast to your invoices
Open the Pakistan invoice generator, enter your business and tax details, add your IBAN, Raast ID and payment reference in the notes, and download the PDF. For clients outside Pakistan, follow our guide to receiving payments from abroad in Pakistan.
Frequently asked questions
Is Raast free for businesses?
The State Bank of Pakistan has kept Raast person-to-person transfers free for customers. Merchant pricing for Raast P2M depends on your bank or payment provider and any incentive scheme in force, so ask for the current merchant fee schedule in writing before you start promoting Raast QR payments to customers.
Can I receive payment from abroad through Raast?
Raast is a domestic system for payments in Pakistani rupees between accounts in Pakistan. A foreign client cannot pay you directly through Raast from an overseas bank. For international clients you need a bank remittance, a home remittance channel or a cross-border provider, as covered in our guide to receiving payments from abroad in Pakistan.
Can I link my Raast ID to a business current account?
You can link a Raast ID, which is your mobile number, to an eligible account at a participating bank or wallet provider. For a business, many banks offer merchant Raast services on business accounts with a merchant alias or QR code instead of a personal mobile alias. Ask your bank which option suits a sole proprietor, partnership or company account.
How do I prove a Raast payment was received?
Every Raast transfer generates a transaction ID or reference that appears in both the payer's and receiver's banking apps and on account statements. Ask clients to share the confirmation screen with the invoice number, check the credit in your own account before releasing goods, and record the transaction ID against the invoice.
Can a Raast payment be reversed?
Raast transfers settle instantly and are generally final. If a customer sends money to the wrong account, they must raise a complaint with their own bank, which can contact the receiving bank, but recovery is not guaranteed. This is why you should confirm your Raast ID or IBAN on every invoice and warn clients about fake account-change messages.
Can customers pay my Raast ID or QR from a mobile wallet?
In most cases, yes. Electronic money institutions and branchless banking wallets participate in Raast alongside banks, so a customer using a wallet app such as Easypaisa can send to a Raast ID or scan a Raast P2M QR, depending on what their provider has enabled. Wallet account limits are often lower than bank account limits, so for larger invoices check that the customer's limit covers the amount.
How do I get a Raast QR code for my business?
Ask your bank or payment provider to onboard you for Raast P2M. You will usually need an eligible business or merchant account and the standard know-your-customer documents, such as your CNIC and business registration details. The bank then issues a static QR, a merchant alias or both, and some offer dynamic QR or request to pay through a merchant app or portal. Ask about fees and settlement before printing the QR on invoices.
What if a customer's banking app doesn't show a Raast option?
Most banks, microfinance banks and many wallets are connected to Raast, but the option may be named differently in the app, such as "send via Raast ID" or "IBAN transfer." If the customer can't find it, they can usually pay to your IBAN, which may route through Raast or IBFT depending on their bank. Keep your IBAN on every invoice as a fallback so the payment method never holds up payment.
What should I do if a customer says they paid by Raast but nothing arrived?
Ask for the transaction ID and time of payment, then check your account statement rather than an app notification or screenshot. Raast payments normally arrive in seconds, so a missing credit usually means the payment failed, went to a different account or is still pending at the sender's bank. The customer should raise it with their own bank using the transaction ID. Don't release goods or mark the invoice paid until the credit appears.
Is a Raast payment record enough for my tax records?
It's a good start, because Raast payments run through the regulated banking system and appear on your bank statement with a transaction ID. You still need the invoice itself, and if you're registered for sales tax, it must carry the required fields such as NTN and STRN. Match each transaction ID to its invoice and keep both. Check FBR or your provincial revenue authority's rules on how long to keep records.
Invoice Creator Editorial Team
Guides on invoicing, cash flow and small-business finance from Invoice Creator, operated by Next Software Development Company. Content is reviewed for accuracy against the fields our own invoice generator produces.
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