ISLAMABAD

Karandaaz Pakistan has partnered with Finnect to accelerate the rollout of offline digital payment solutions aimed at improving financial access in areas with weak or no internet connectivity, the organizations announced on Monday.

The collaboration comes as Pakistan pushes to expand its digital economy and reduce reliance on cash transactions, while connectivity gaps continue to hinder the adoption of digital payments in rural and underserved regions.

Under the partnership, Finnect — one of the winners of Pakistan’s first Offline Payments Innovation Challenge — will deploy payment systems capable of functioning in low-connectivity environments by leveraging the country’s Raast digital payments ecosystem.

The initiative aims to provide secure and scalable payment solutions for small businesses, farmers and merchants operating in regions where unstable internet access frequently disrupts financial transactions.

“Pakistan’s transition toward a cashless economy must be built around the realities of its people and markets,” said Waqas ul Hasan, chief executive officer of Karandaaz Pakistan.

“Through this partnership with Finnect, Karandaaz is supporting practical innovation that strengthens the Raast ecosystem and extends secure, reliable digital payment solutions to underserved markets, including smallholder farmers, small merchants and rural communities,” he added.

Finnect currently facilitates Raast QR-based digital transactions across more than 20 cities in Pakistan and plans to expand merchant onboarding in Tier-2 and Tier-3 markets under the agreement.

Speaking at the signing ceremony, Shahnawaz Mahmood said the partnership would help deliver “simple and practical” payment infrastructure to communities facing persistent connectivity issues.

“Our focus is to help build a digital finance landscape that works for everyone, regardless of location,” Mahmood said.

Industry experts say offline payment capabilities are becoming increasingly important in emerging economies where patchy mobile coverage and power disruptions often interrupt digital transactions.

The partnership also reflects broader efforts by Pakistan’s fintech sector to expand financial inclusion through low-cost digital solutions linked to the Raast instant payment platform, launched by the State Bank of Pakistan to modernize the country’s payments infrastructure.

Founded in 2014, Karandaaz Pakistan works to promote financial inclusion and digital transformation through investments and innovation partnerships. The organization receives seed funding support from the UK government’s Foreign, Commonwealth and Development Office, while its digital financial services initiatives are additionally backed by the Bill & Melinda Gates Foundation.