KARACHI: Karandaaz Pakistan has advanced efforts to widen digital financial inclusion by convening the final pitch round of the Offline Payments Innovation Challenge, aimed at enabling secure digital payments in low or no-connectivity environments, said a press release on Saturday.
The initiative responds to persistent connectivity gaps that continue to limit digital transactions, particularly in rural, remote and disaster-affected areas, despite broader progress in digital payments adoption nationwide.
The challenge shortlisted high-quality proposals from startups, fintech firms and technology innovators following a rigorous evaluation process. Over two days, participants presented solutions built around Raast to a six-member national and international judging panel representing regulators, development partners, academia and industry.
Proposals were assessed on technical strength, security, regulatory alignment, scalability, market relevance and long-term sustainability, with top-performing solutions selected for grant support, technical and regulatory guidance, and potential pilot deployments.
Commenting on the initiative, Karandaaz Pakistan Chief Executive Officer Waqasul Hasan said digital payments in Pakistan could not rely on assumptions of constant connectivity. He noted that the challenge supports the national vision for a cashless Pakistan and the Digital Pakistan agenda by promoting locally relevant, secure and scalable solutions. Karandaaz said the initiative lays the groundwork for practical innovation to bridge connectivity gaps and expand access to affordable digital payment solutions across the country.
