Pakistan’s State Bank has launched a new real-time payment system called Prism Plus. This modern system improves the country’s banking infrastructure. With this launch, Pakistan joins a select group of nations using global-standard payment technology. The system aims to boost digital financial inclusion and support economic growth.
The launch event took place at the National Institute of Banking and Finance. Top banking CEOs, payment operators, and government officials attended. State Bank Governor Jameel Ahmad highlighted that Prism Plus aligns with the bank’s Vision 2028. He emphasized the system’s role in strengthening Pakistan’s digital financial framework.
Prism Plus uses the ISO 20022 global messaging standard. This standard improves transaction speed, security, and transparency. The system offers features like real-time liquidity management, transaction queuing, and scheduled payments. It also integrates with the Central Securities Depository for auctions and monetary operations.
This payment system enhances interoperability among banks and financial institutions. It allows smoother, faster, and more transparent financial transactions. Moreover, it supports retail and large-scale payments, benefiting both businesses and consumers. Overall, it marks a milestone in Pakistan’s financial market development.
Prism Plus modernizes Pakistan’s payment infrastructure. It encourages digital growth and financial inclusion nationwide. This upgrade shows Pakistan’s commitment to adopting advanced global financial technologies. The system will play a vital role in the country’s economic future.