The Central Depository Company of Pakistan Limited (CDC) and EClear Services Limited are expanding their partnership to launch advanced digital payment and investor verification services in the country's capital market. This initiative operates under the Raast Aggregator framework established by the CDC.
The CDC has already integrated Raast Person-to-Person (P2P) and Static QR Code services into its operations. As the first institution to do so, the CDC is extending Raast Person-to-Merchant (P2M) payment solutions and Raast-based IBAN-CNIC validation services to the capital market.
EClear Services is scheduled to become the first stock market institution in Pakistan to adopt Dynamic QR Code use cases and Raast P2M Request to Pay Later (RTPL). One specific application for these tools involves automating debit and margin calls for brokers connected to EClear that are Trading Only (TO).
Akber said, "Our expanded collaboration with EClear Services further reinforces our commitment to driving digital innovation and efficiency across Pakistan’s capital market."
