{
  "id": 16581601,
  "title": "CDC, EClear Services expand services to advance digital payments through Raast",
  "url": "https://urgent.news/2026/10/26/cdc-eclear-services-expand-services-to-advance-digital-payments",
  "topic": "health",
  "section": "Health & Medicine",
  "published": "2026-10-26T09:33:17.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40445982/cdc-eclear-services-expand-services-to-advance-digital-payments-through-raast"
  },
  "original_language": "en",
  "account": "The Central Depository Company of Pakistan (CDC) and EClear Services Limited have strengthened their partnership to introduce cutting-edge digital payment and investor verification services through the Raast Aggregator framework. This development follows the successful deployment of Raast Person-to-Person (P2P) and Static QR Code services by CDC, as highlighted in a recent statement. In a groundbreaking move, CDC has become the first entity in Pakistan to expand Raast Person-to-Merchant (P2M) payment solutions and Raast-based IBAN-CNIC Validation services to the country's capital market. EClear Services is set to pioneer the adoption of Raast P2M Request to Pay Later (RTPL) and Dynamic QR Code use cases within Pakistan's stock market.\n\nThese solutions also encompass an application designed to automate debit and margin calls by EClear's connected brokers, providing a more efficient alternative to traditional payment collection methods. Badiuddin Akber, the Chief Executive Officer of CDC, emphasized that CDC was the inaugural capital market institution to integrate with the State Bank of Pakistan's Raast system. The successful implementation of the Raast 1st use case for bulk payments in CDC's eDividend initiative in 2021 laid the foundation for this enhanced collaboration with EClear Services. The statement underlines CDC's ongoing commitment to advancing digital innovation and efficiency in Pakistan's capital market, leveraging the State Bank of Pakistan's Raast infrastructure to facilitate novel payment solutions and optimized financial processes.",
  "summary": "The Central Depository Company of Pakistan Limited (CDC) and EClear Services Limited are expanding their collaboration to introduce advanced digital payment and investor verification services under CDC’s Raast Aggregator framework. The collaboration builds on the successful implementation of Raast Person-to-Person (P2P) and Static QR Code services by CDC, read a statement on Monday. Building on…",
  "key_points": [
    "CDC partners with EClear Services to expand digital payment services in Pakistan.",
    "CDC becomes first entity in Pakistan to offer Raast P2M and IBAN-CNIC validation.",
    "EClear to pioneer Raast P2M Request to Pay Later and Dynamic QR Code use cases."
  ],
  "editors_take": "Integrating Raast payment frameworks into the capital market streamlines investor verification and automates margin calls, moving the local stock market toward a more efficient and digitized financial ecosystem.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}