Pay with Raast Using Peanut — Coming Soon
Peanut is adding Raast support. Soon you'll send Pakistani rupees instantly to any bank or wallet in Pakistan from your digital dollar balance.
Peanut is adding Raast support. Soon you'll be able to send money to anyone in Pakistan directly from your Peanut balance — converting digital dollars to Pakistani rupees and delivering them instantly via Raast. Raast is Pakistan's first instant payment system, launched by the State Bank of Pakistan (SBP). It enables real-time person-to-person transfers using a phone number or IBAN across banks and digital wallets. Once the integration goes live, Peanut will give you instant access to Pakistan's growing payment network.
Pakistan is one of the world's top remittance-receiving countries, with formal inflows exceeding $30 billion annually. The UAE, Saudi Arabia, UK, and US are the largest origin corridors. Traditional remittance channels are slow and expensive. Peanut will offer instant delivery via Raast at competitive rates — a faster, cheaper alternative for the millions of people sending money to Pakistan every month.
What Is Raast?
Raast is Pakistan's state-backed instant payment system, launched in phases starting in 2021 by the State Bank of Pakistan. It is modeled on successful systems like India's UPI and Brazil's Pix, bringing real-time digital payments to a country with a large unbanked population.
Raast has rolled out in three phases. Phase 1 enabled bulk payments — government disbursements and corporate salary payments. Phase 2, launched in 2022, added person-to-person instant transfers using mobile numbers as Raast IDs. Phase 3 — merchant payments — is currently under development. Person-to-person transfers are growing rapidly as more banks and wallets integrate.
Major banks (HBL, UBL, MCB, Meezan Bank, Allied Bank) and digital wallets (JazzCash, Easypaisa) are already connected to Raast. These wallets serve tens of millions of users, especially in areas with limited bank branch access. The combination of bank and wallet integration gives Raast broad reach across Pakistan's financial landscape.
Pakistan has a large unbanked population — Raast was specifically designed to drive financial inclusion through mobile-first, real-time payments. By enabling transfers via phone number rather than account number, Raast makes it possible to reach recipients who may not have traditional bank accounts but do have JazzCash or Easypaisa wallets on their phones.
Where It Works
Raast connects a growing network of Pakistani financial institutions:
- Major banks — HBL, UBL, MCB, Meezan Bank, Allied Bank
- Digital wallets — JazzCash, Easypaisa (together serving tens of millions)
- Microfinance banks — extending reach to underbanked populations
- Fintechs — integrating via API for modern payment experiences
Raast works nationwide — recipients in Karachi, Lahore, Islamabad, Peshawar, Multan, Faisalabad, and smaller cities can all receive instant transfers. The system's reach extends wherever JazzCash and Easypaisa agents operate, covering even remote and rural areas through their agent networks.
How It Will Work
- 1
Open Peanut and select Send
You'll open the Peanut app and choose to send money via Raast to a Pakistani bank account or wallet.
- 2
Enter the recipient's Raast ID
Provide the recipient's mobile phone number (Raast ID) or IBAN. Phone-number-based transfers make it easy — no need to ask for full bank details.
- 3
Review the transfer
You'll see the PKR amount, the digital dollar equivalent, and the exchange rate. The rate will lock when you confirm.
- 4
Confirm and send
Tap to confirm. The recipient will receive Pakistani rupees instantly in their bank account or wallet — whether they use HBL, JazzCash, Easypaisa, or another participating institution.
The exact payment flow will be confirmed closer to launch. The steps above reflect the general Raast experience combined with Peanut's existing payment model.
What You'll Need
When Raast support goes live, you'll need:
- A Peanut account with identity verification. Verify with your passport or national ID card from any country — under 2 minutes for most users. Your documents are handled securely and Peanut never sees or stores them.
- A funded digital dollar balance. Deposit from any exchange or wallet, or via bank transfer (SEPA from Europe, ACH or wire from the US). All deposits are free.
- The recipient's phone number or IBAN. Raast uses mobile numbers as payment identifiers.
- No CNIC or Pakistani bank account on your end. You won't need a Computerized National Identity Card or local bank account to send money to Pakistan through Peanut.
Specific requirements and transaction limits will be confirmed at launch.
Fees & Exchange Rate
Peanut charges no fees on payments. When Raast support goes live, you'll convert digital dollars to Pakistani rupees at a competitive market exchange rate with no transaction fee and no hidden charges.
The Pakistani rupee has experienced significant depreciation in recent years, making exchange rate transparency crucial for remittance senders. Peanut's rate will lock at the moment you confirm — no slippage, no post-transaction adjustments. This means the recipient gets exactly the amount shown on your confirmation screen.
Pakistan's remittance corridors from the UAE, Saudi Arabia, and UK often carry fees of 3-7% through traditional services. Peanut aims to offer a significantly better deal with instant delivery and competitive rates. Detailed comparisons will be published closer to launch.
