Karandaaz partners Finnect to expand offline Raast payments network

May 19, 2026 (MLN):  Karandaaz Pakistan has partnered with Finnect, one of the winners of the 1st Offline Payments Innovation Challenge, to support the rollout of offline payment solutions designed to work in low or no-connectivity environments.

As Pakistan moves toward a more digitised economy, intermittent internet connectivity continues to hinder the adoption of digital payments.

The issue is especially significant for small businesses and users in rural, remote, and underserved regions, as well as parts of urban centres where connectivity remains unstable.

Under this collaboration, Finnect will focus on accelerating the deployment of offline payment systems by leveraging the Raast ecosystem.

The initiative aims to enable secure, scalable, and locally relevant payment solutions for merchants and communities where connectivity limitations restrict access to digital financial services.

Finnect, a digital payments enabler with experience in Raast QR soundbox deployments, currently facilitates transactions in more than 20 cities across Pakistan.

The partnership is expected to expand merchant onboarding and promote digital payment acceptance in Tier 2 and Tier 3 markets.

Speaking on the occasion, Waqas ul Hasan, CEO of Karandaaz Pakistan, said that Pakistan’s shift toward a cashless economy must show ground realities.

He said the partnership with Finnect supports practical innovation that strengthens the Raast ecosystem and extends reliable digital payment solutions to underserved segments, including smallholder farmers, small merchants, and rural communities.

Shahnawaz Mahmood, CEO of Finnect, said the collaboration marks an important step in expanding reliable digital payment solutions across Pakistan.

He added that by combining on-ground experience with Raast QR deployments, Finnect aims to provide simple and practical payment systems to merchants and communities facing connectivity challenges.

The initiative emphasizes Karandaaz’s continued focus on promoting innovation that removes barriers to financial inclusion and expands access to digital payments across Pakistan.

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