BankIslami's digital platform 'aik' has launched aikPay, described as Pakistan's first Shariah-compliant Raast-enabled QR payment gateway, marking a new step in the integration of Islamic banking with real-time digital payments infrastructure.

Built on the State Bank of Pakistan's Raast system, aikPay enables instant online transactions through dynamic QR codes. Customers can make payments directly from their bank accounts, while merchants receive funds securely through a streamlined checkout process.

The launch followed an engagement session hosted by aik with representatives from the State Bank of Pakistan and Raast Payments Pakistan. Participants included Muhammad Imaduddin, Director of Digital Innovations and Settlement at SBP, Ahson bin Saeed, CEO of Raast Payments Pakistan, Sohail Sikandar, Chief Operations Officer of BankIslami, Ashfaque Ahmed, Chief Officer of aik, and other team members.

According to Ashfaque Ahmed, the initiative aligns with aik's goal of promoting Riba-free digital banking while supporting Pakistan's transition toward a digital economy. He noted that as digital transactions become routine, the platform aims to deliver faster and smoother payment experiences.

Through aikPay, users can complete online purchases using any Raast-enabled mobile banking application. Transactions are confirmed instantly, and payments are processed without the need for card-based systems.

For merchants, the gateway offers nationwide interoperability under the Raast infrastructure, real-time confirmation and immediate settlement, improving liquidity. The solution also features competitive merchant discount rates, positioning it as an option for small and medium-sized enterprises, online ventures, institutions and government entities.

The launch highlights the ongoing expansion of Raast-based digital financial services and signals a move to integrate Islamic banking principles with Pakistan's evolving real-time payments ecosystem.