CDC and EClear expand digital payment services in Pakistan capital market
The Central Depository Company of Pakistan Limited and EClear Services Limited announced an expanded collaboration on October 26 to introduce new digital payment tools under the Raast Aggregator framework.
New payment solutions for trading
CDC has become the first institution to extend Person-to-Merchant payment solutions and IBAN-CNIC validation services to the local capital market. EClear Services is set to adopt Request to Pay Later and Dynamic QR Code use cases within the stock market. These developments build on existing Person-to-Person and Static QR Code implementations already in place.
Automated margin call processes
The new application automates debit and margin calls for connected brokers to offer a streamlined alternative to conventional collection methods. CDC previously connected with the State Bank of Pakistan system in 2021 for bulk payments related to its eDividend initiative.
All 2 outlets report consistently
No differences in figures, names or dates across these reports.
- Associated Press of Pakistan
- Business Recorder
Reported by
2 independent outlets. Headlines as published. Links open the original report.