The Central Depository Company of Pakistan Limited and EClear Services Limited are broadening their partnership to bring digital payment and investor verification tools to the local stock market using the State Bank of Pakistan Raast system.
This project makes EClear the initial institution within the country to integrate Raast Person-to-Merchant Request to Pay Later along with Dynamic QR Code payment options.
These tools are designed to ease payment collections and provide fresh transaction management methods for brokerage activities.
The partnership expands upon existing CDC Raast Person-to-Person transfers and Static QR Code offerings that let capital market customers move money for investments, trading, and other needs.
Additionally, the CDC launched Raast-based IBAN-CNIC validation features for this sector.
Brokers linked to EClear may use these payment updates to automate margin and debit calls, which cuts down manual work and simplifies collecting payments.
Badiuddin Akber, the Chief Executive Officer of CDC, stated that his firm was the initial capital market entity to link with Raast by rolling out bulk payments for the eDividend program back in 2021.
He noted that the company kept rolling out Raast tools for stockbrokers, mutual fund firms, and insurance companies.
By using its Raast Aggregator framework, the CDC plans to grow digital payment options throughout the national capital market and better financial procedures for market participants and investors.
