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 in Pakistan’s capital market under CDC’s Raast Aggregator framework.
Announced on October 26, 2026, the initiative aims to improve payment collection, streamline financial processes and enhance the digital experience for investors and capital market participants by leveraging the State Bank of Pakistan’s Raast payment infrastructure.
CDC Expands Raast Payment Solutions for Capital Market
The expanded collaboration builds on CDC’s implementation of Raast Person-to-Person (P2P) payments and Static QR Code services, which enable customers of capital market entities to transfer funds conveniently for trading, investment and other purposes.
CDC has now extended its Raast capabilities to include Person-to-Merchant (P2M) payment solutions and Raast-based IBAN-CNIC validation services. According to the announcement, CDC is the first institution to introduce these services to Pakistan’s capital market.
The new capabilities are intended to support more efficient digital transactions while helping verify investor information and improve payment processes across the financial ecosystem.
EClear to Introduce Dynamic QR Codes and Request-to-Pay Services
EClear Services is set to become the first institution in Pakistan’s stock market to adopt Raast P2M Request to Pay Later (RTPL) and Dynamic QR Code use cases.
These solutions are expected to provide new ways to initiate, manage and collect payments across brokerage operations. One potential application involves automating debit and margin calls for EClear-connected Trading Only (TO) brokers, providing an alternative to conventional payment collection methods.
By integrating these digital payment options into its operations, EClear aims to streamline payment workflows and reduce the need for manual intervention.
Digital Payments to Improve Investor Experience
The integration of digital payments and verification services is expected to deliver operational benefits to capital market participants. Automated payment processes can help simplify collections, improve transaction management and provide investors with a more convenient experience.
For brokerage firms and other market institutions, these capabilities may also support more efficient handling of routine financial transactions and reduce reliance on traditional collection procedures.
The collaboration reflects the growing role of digital financial infrastructure in supporting Pakistan’s capital market as institutions seek to improve service delivery and operational efficiency.
CDC Reaffirms Commitment to Financial Innovation
Speaking on the occasion, CDC Chief Executive Officer Badiuddin Akber said the company became the first capital market institution to connect with the State Bank of Pakistan’s Raast system. In 2021, CDC implemented Raast’s first use case for bulk payments through its eDividend initiative.
Akber said CDC has continued to adopt new payment solutions under the Raast framework and extend their benefits to mutual fund companies, stockbrokers and insurance companies.
He added that the expanded collaboration with EClear Services reinforces CDC’s commitment to advancing digital innovation and operational efficiency across Pakistan’s capital market.
Building a Digitally Connected Investment Ecosystem
Through its Raast Aggregator framework, CDC continues to expand the digital financial services available to Pakistan’s capital market by enabling market participants to access and integrate payment solutions built on the State Bank of Pakistan’s Raast infrastructure.
The latest initiative with EClear Services adds further payment and verification capabilities to this ecosystem, with a focus on streamlined transactions, improved collection processes and greater digital integration.
As adoption progresses, these services could support a more connected investment environment in which investors, brokers and financial institutions benefit from more efficient payment operations.