Karachi, May 29, 2024 – Paysys Labs, in collaboration with 1LINK and Raast, is excited to announce the launch of the innovative 1GO Raast P2M service. This pioneering service offers merchants Dynamic QR Code, Static QR Code, Request to Payment Now & Later, and Bulk Request to Payment Later Processing options, transforming the landscape of interoperable Person to Merchant (P2M) payment services in Pakistan.
The launch event, held at 1LINK Head Office, was graced by the Honorable Deputy Governor of the State Bank of Pakistan, Mr. Saleem Ullah, as the Chief Guest. Our CEO, Karim Jindani, had the honor of sharing the stage with Mr. Saleem Ullah, emphasizing the collaborative efforts in this transformative journey. The event also saw participation from Mr. Sohail Javaad, ED, DFSG, and over 12 merchant aggregators, demonstrating broad support for this initiative.
Transforming Payments in Pakistan
The 1GO Raast P2M service is set to revolutionize P2M payments by offering a seamless, secure, and efficient solution through a Mobile App for instant and transparent transactions. It supports a wide range of use cases, including proximity, biller, e-commerce, and m-commerce digital payments. This initiative will significantly contribute to digital payment inclusion and expansion in Pakistan, fostering a low-cost, easy-to-use digital financial ecosystem.
As the technology partner to 1LINK, Paysys Labs is proud to enable this service with Paysys Open Connect, our PCI-SSF certified software.
Leadership Insights
Mr. Saleem Ullah, Deputy Governor of SBP, remarked, “The 1GO initiative is a major step forward, targeting the majority of merchants and helping transition from a cash-based to a digital society.”
Mr. Sohail Javaad, Director SBP, commented, “1LINK plays an important role in enabling fintech companies to seamlessly process payments through Raast.”
Mr. Najeeb Agrawalla, CEO of 1LINK, added, “1GO marks a pivotal step towards open banking in Pakistan. With 13 aggregators committing today and many more in the pipeline, we anticipate widespread adoption and collaboration in the digital payments landscape.”
About 1LINK
1LINK (Pvt) Limited, owned by a consortium of 11 banks, is Pakistan’s first PSO/PSP and the largest switch and payment system, providing valuable services such as ATM switching, 1Bill, Inter Bank Funds Transfer, Fraud Risk Management, and more.
About Paysys Labs
Paysys Labs is a leading technology partner, dedicated to advancing the digital financial ecosystem in Pakistan. Our PCI-SSF certified software, Paysys Open Connect, empowers secure and efficient digital payment solutions.
Join us in celebrating this milestone towards a Digital Pakistan!
For more information, visit: 1link.net.pk
