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Karachi, May 18, 2026: Karandaaz Pakistan partnered with Finnect after the company won the 1st Offline Payments Innovation Challenge. Together, they will deploy offline payment solutions that work in low or no-connectivity areas.
As Pakistan moves toward a digital economy, connectivity gaps still slow down digital payment adoption. Therefore, Karandaaz and Finnect are targeting rural areas, remote regions, and underserved urban pockets where internet access remains unreliable.
Through this partnership, Finnect will scale offline payment solutions using the Raast ecosystem. In addition, both partners aim to provide secure, scalable, and locally relevant payment options for merchants facing connectivity issues.
Finnect already enables digital transactions in more than 20 cities through Raast QR soundbox solutions. Now, the company will expand merchant onboarding in Tier 2 and Tier 3 markets to increase digital payment acceptance.
Speaking at the signing, Karandaaz Pakistan CEO Waqas ul Hasan said Pakistan’s shift to a cashless economy must reflect real market conditions. Moreover, he said the partnership will strengthen the Raast ecosystem and extend digital payments to small merchants, farmers, and rural communities.
Similarly, Finnect CEO Shahnawaz Mahmood said the collaboration marks a key step in expanding reliable digital payments nationwide. He added that Finnect will combine field experience with Raast QR solutions to simplify payments for merchants in low-connectivity areas.
Overall, the initiative highlights Karandaaz Pakistan’s focus on solving practical barriers to financial inclusion and expanding access to digital payments across the country.
