ISLAMABAD: Karandaaz Pakistan has partnered with Finnect to accelerate the deployment of offline digital payment solutions in areas with limited or unreliable internet connectivity.
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The partnership follows Finnect’s success as one of the winners of the first Offline Payments Innovation Challenge.
Focus on underserved and rural communities
As Pakistan moves toward a more digitised economy, connectivity issues continue to restrict the wider adoption of digital payments, especially in rural and underserved regions.
Through this collaboration, Finnect will expand offline payment solutions using the Raast ecosystem. The initiative aims to provide secure and scalable payment options for merchants and communities where internet access remains inconsistent.
Currently, Finnect facilitates Raast QR soundbox transactions in more than 20 cities across Pakistan.
Expansion planned for Tier 2 and Tier 3 markets
The partnership will support merchant onboarding and digital payment acceptance in Tier 2 and Tier 3 markets.
Officials said the initiative would help small businesses, farmers, and local merchants gain better access to digital financial services.
Karandaaz highlights inclusive digital economy goals
Waqas ul Hasan, CEO of Karandaaz Pakistan, said the country’s transition toward a cashless economy must reflect the realities of local markets and communities.
He added that the partnership with Finnect would support practical innovation and strengthen the Raast ecosystem by extending reliable digital payment solutions to underserved areas.
Finnect stresses practical payment solutions
Meanwhile, Finnect CEO Shahnawaz Mahmood described the collaboration as an important step toward expanding dependable digital payment systems nationwide.
He said the company aims to combine its on-ground Raast QR deployment experience with practical technology solutions that can work despite connectivity challenges.
Supporting financial inclusion in Pakistan
The initiative reflects Karandaaz Pakistan’s broader strategy to promote financial inclusion and support innovations that improve access to digital finance across the country.
Founded in 2014, Karandaaz Pakistan works to strengthen Pakistan’s financial and digital ecosystem through investments, partnerships, and innovation initiatives.
