Bill and Melinda Gates Are Now Backing New Digital Payments System in Pakistan to Support Financial Inclusion for Women

Source: Crowdfund Insider

Pakistan has introduced a state-managed instant digital payments platform in order to promote greater financial inclusion. The new online payments system, Raast, has been launched to support women who might have been financially marginalized or unable to access modern financial services for a long time. Notably, Raast has been launched at a time when the nation has been considering regulating virtual currencies.

Raast has reportedly been implemented by the State Bank of Pakistan (SBP), the country’s central bank, with assistance from the Bill and Melinda Gates Foundation. The new payments system has received additional support from Britain, the United Nations, and the World Bank.