{"id":5146,"date":"2025-06-12T10:21:34","date_gmt":"2025-06-12T05:21:34","guid":{"rendered":"https:\/\/pkfin.kotenterprises.dev\/?p=5146"},"modified":"2025-06-12T10:21:34","modified_gmt":"2025-06-12T05:21:34","slug":"sbp-to-launch-prism-to-modernize-pakistans-digital-payment-ecosystem","status":"publish","type":"post","link":"https:\/\/pkfin.kotenterprises.dev\/?p=5146","title":{"rendered":"SBP to Launch PRISM+ to Modernize Pakistan\u2019s Digital Payment Ecosystem"},"content":{"rendered":"<p data-start=\"196\" data-end=\"521\"><strong data-start=\"196\" data-end=\"208\">KARACHI:<\/strong> <a href=\"https:\/\/www.sbp.org.pk\/index.html\" rel=\"nofollow noopener\" target=\"_blank\">The State Bank of Pakistan (SBP)<\/a>, as part of its Vision 2028 initiative, has announced the official launch of the Pakistan Real-Time Interbank Settlement Mechanism Plus (PRISM+), which will go live on <strong data-start=\"410\" data-end=\"427\">June 16, 2025<\/strong>. The new system is a major upgrade to the country\u2019s National Digital Payments Infrastructure.<\/p>\n<p data-start=\"523\" data-end=\"779\">PRISM+ is built on the <strong data-start=\"546\" data-end=\"588\">ISO 20022 financial messaging standard<\/strong>, enabling structured and data-rich financial communication. This will enhance <strong data-start=\"667\" data-end=\"701\">transparency, interoperability<\/strong>, and <strong data-start=\"707\" data-end=\"721\">automation<\/strong> across the payments and settlement ecosystem in Pakistan.<\/p>\n<p data-start=\"781\" data-end=\"812\">Key features of PRISM+ include:<\/p>\n<ul data-start=\"813\" data-end=\"1075\">\n<li data-start=\"813\" data-end=\"854\">\n<p data-start=\"815\" data-end=\"854\">Advanced liquidity management tools<\/p>\n<\/li>\n<li data-start=\"855\" data-end=\"899\">\n<p data-start=\"857\" data-end=\"899\">Transaction queuing and prioritization<\/p>\n<\/li>\n<li data-start=\"900\" data-end=\"941\">\n<p data-start=\"902\" data-end=\"941\">Scheduling of future-dated payments<\/p>\n<\/li>\n<li data-start=\"942\" data-end=\"996\">\n<p data-start=\"944\" data-end=\"996\">Customizable dashboards, alerts, and query tools<\/p>\n<\/li>\n<li data-start=\"997\" data-end=\"1075\">\n<p data-start=\"999\" data-end=\"1075\">Real-time monitoring and approval of transactions via a web-based module<\/p>\n<\/li>\n<\/ul>\n<p data-start=\"1077\" data-end=\"1197\">Additionally, PRISM+ introduces a <strong data-start=\"1111\" data-end=\"1150\">Central Securities Depository (CSD)<\/strong> to facilitate <a href=\"https:\/\/pkfin.kotenterprises.dev\/2025\/05\/21\/upesi-africas-leading-money-transfer-company-appoints-fareed-jillani-as-head-of-marketing-for-middle-east-and-europe\/\" target=\"_blank\" rel=\"nofollow noopener\">money market<\/a> operations such as:<\/p>\n<ul data-start=\"1198\" data-end=\"1319\">\n<li data-start=\"1198\" data-end=\"1232\">\n<p data-start=\"1200\" data-end=\"1232\"><a href=\"https:\/\/pkfin.kotenterprises.dev\/2024\/12\/12\/sbp-to-launch-investpak-platform-for-direct-investment-in-government-securities\/\" target=\"_blank\" rel=\"nofollow noopener\">Government securities<\/a> auctions<\/p>\n<\/li>\n<li data-start=\"1233\" data-end=\"1266\">\n<p data-start=\"1235\" data-end=\"1266\">Secondary market transactions<\/p>\n<\/li>\n<li data-start=\"1267\" data-end=\"1292\">\n<p data-start=\"1269\" data-end=\"1292\">Collateral management<\/p>\n<\/li>\n<li data-start=\"1293\" data-end=\"1319\">\n<p data-start=\"1295\" data-end=\"1319\">Open market operations<\/p>\n<\/li>\n<\/ul>\n<p data-start=\"1321\" data-end=\"1756\">To support daily settlements, <strong data-start=\"1351\" data-end=\"1374\">Transitory Accounts<\/strong> have been established. At the start of each business day, 80% of a participant\u2019s balance from their Current Account held with SBP BSC (Karachi) will be transferred to their Transitory Account. Institutions can manage liquidity by transferring funds between these accounts during business hours and allocate funds for ancillary clearing needs such as <strong data-start=\"1725\" data-end=\"1740\">Raast, NIFT<\/strong>, and <strong data-start=\"1746\" data-end=\"1755\">1Link<\/strong>.<\/p>\n<p data-start=\"1758\" data-end=\"2104\">To ensure seamless Straight-Through Processing (STP), participants must integrate their systems with PRISM+ through <strong data-start=\"1874\" data-end=\"1899\">APIs or file adapters<\/strong>. For a smoother transition, PRISM+ will support both <strong data-start=\"1953\" data-end=\"1982\">MT and MX (ISO 20022 XML)<\/strong> message formats until <strong data-start=\"2005\" data-end=\"2027\">September 30, 2025<\/strong>. The <strong data-start=\"2033\" data-end=\"2103\">MT\/MX converter facility will be discontinued from October 1, 2025<\/strong>.<\/p>\n<p data-start=\"2106\" data-end=\"2384\">In line with efforts to streamline customer transactions, SBP has directed all financial institutions to adopt <strong data-start=\"2217\" data-end=\"2249\">Raast Over-the-Counter (OTC)<\/strong> services in place of RTGS OTC for branch-initiated customer transactions. This transition must be completed by <strong data-start=\"2361\" data-end=\"2383\">September 30, 2025<\/strong>.<\/p>\n<p data-start=\"2386\" data-end=\"2605\">The <a href=\"https:\/\/pkfin.kotenterprises.dev\/2024\/11\/13\/deputy-governor-at-sbp-urges-holistic-approach-to-islamic-finance\/\" target=\"_blank\" rel=\"nofollow noopener\">SBP has also urged<\/a> all participants to <strong data-start=\"2429\" data-end=\"2478\">review and align their operational frameworks<\/strong> with the new system and retain <strong data-start=\"2510\" data-end=\"2541\">historical transaction data<\/strong> processed through PRISM+ to ensure accessibility when required.<\/p>\n<p data-start=\"2607\" data-end=\"2796\">This major infrastructure revamp is expected to bolster <a href=\"https:\/\/pkfin.kotenterprises.dev\/2024\/03\/22\/easypaisa-and-unilevers-knorr-collaborate\/\" target=\"_blank\" rel=\"nofollow noopener\">Pakistan\u2019s digital payment landscape<\/a> and contribute significantly toward a more inclusive, efficient, and secure financial ecosystem.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>KARACHI: The State Bank of Pakistan (SBP), as part of its Vision 2028 initiative, has announced the official launch of the Pakistan Real-Time Interbank Settlement Mechanism Plus (PRISM+), which will go live on June 16, 2025. The new system is a major upgrade to the country&rsquo;s National Digital Payments Infrastructure. PRISM+ is built on the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2649,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","footnotes":""},"categories":[2],"tags":[],"class_list":["post","format-standard"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.9 - aioseo.com -->\n\t<meta name=\"description\" content=\"KARACHI: The State Bank of Pakistan (SBP), as part of its Vision 2028 initiative, has announced the official launch of the Pakistan Real-Time Interbank Settlement Mechanism Plus (PRISM+), which will go live on June 16, 2025. 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PRISM+ is built on the"},"aioseo_meta_data":{"post_id":"5146","title":null,"description":null,"keywords":null,"keyphrases":null,"primary_term":null,"canonical_url":null,"og_title":null,"og_description":null,"og_object_type":"default","og_image_type":"default","og_image_url":null,"og_image_width":null,"og_image_height":null,"og_image_custom_url":null,"og_image_custom_fields":null,"og_video":null,"og_custom_url":null,"og_article_section":null,"og_article_tags":null,"twitter_use_og":false,"twitter_card":"default","twitter_image_type":"default","twitter_image_url":null,"twitter_image_custom_url":null,"twitter_image_custom_fields":null,"twitter_title":null,"twitter_description":null,"schema":{"blockGraphs":[],"customGraphs":[],"default":{"data":{"Article":[],"Course":[],"Dataset":[],"FAQPage":[],"Movie":[],"Person":[],"Product":[],"ProductReview":[],"Car":[],"Recipe":[],"Service":[],"SoftwareApplication":[],"WebPage":[]},"graphName":"","isEnabled":true},"graphs":[]},"schema_type":"default","schema_type_options":null,"pillar_content":false,"robots_default":true,"robots_noindex":false,"robots_noarchive":false,"robots_nosnippet":false,"robots_nofollow":false,"robots_noimageindex":false,"robots_noodp":false,"robots_notranslate":false,"robots_max_snippet":null,"robots_max_videopreview":null,"robots_max_imagepreview":"large","priority":null,"frequency":null,"local_seo":null,"breadcrumb_settings":null,"limit_modified_date":false,"ai":null,"created":"2026-03-29 05:00:18","updated":"2026-03-29 05:00:18","seo_analyzer_scan_date":null},"aioseo_breadcrumb":"<div class=\"aioseo-breadcrumbs\"><span class=\"aioseo-breadcrumb\">\n\t\t\t<a href=\"https:\/\/pkfin.kotenterprises.dev\" title=\"Home\">Home<\/a>\n\t\t<\/span><span class=\"aioseo-breadcrumb-separator\">&raquo;<\/span><span class=\"aioseo-breadcrumb\">\n\t\t\t<a href=\"https:\/\/pkfin.kotenterprises.dev\/?cat=1193\" title=\"Fintech News\">Fintech News<\/a>\n\t\t<\/span><span class=\"aioseo-breadcrumb-separator\">&raquo;<\/span><span class=\"aioseo-breadcrumb\">\n\t\t\t<a href=\"https:\/\/pkfin.kotenterprises.dev\/?cat=2\" title=\"Fintech\">Fintech<\/a>\n\t\t<\/span><span class=\"aioseo-breadcrumb-separator\">&raquo;<\/span><span class=\"aioseo-breadcrumb\">\n\t\t\tSBP to Launch PRISM+ to Modernize Pakistan\u2019s Digital Payment Ecosystem\n\t\t<\/span><\/div>","aioseo_breadcrumb_json":[{"label":"Home","link":"https:\/\/pkfin.kotenterprises.dev"},{"label":"Fintech News","link":"https:\/\/pkfin.kotenterprises.dev\/?cat=1193"},{"label":"Fintech","link":"https:\/\/pkfin.kotenterprises.dev\/?cat=2"},{"label":"SBP to Launch PRISM+ to Modernize Pakistan\u2019s Digital Payment Ecosystem","link":"https:\/\/pkfin.kotenterprises.dev\/?p=5146"}],"_links":{"self":[{"href":"https:\/\/pkfin.kotenterprises.dev\/index.php?rest_route=\/wp\/v2\/posts\/5146","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pkfin.kotenterprises.dev\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pkfin.kotenterprises.dev\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pkfin.kotenterprises.dev\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pkfin.kotenterprises.dev\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5146"}],"version-history":[{"count":2,"href":"https:\/\/pkfin.kotenterprises.dev\/index.php?rest_route=\/wp\/v2\/posts\/5146\/revisions"}],"predecessor-version":[{"id":5148,"href":"https:\/\/pkfin.kotenterprises.dev\/index.php?rest_route=\/wp\/v2\/posts\/5146\/revisions\/5148"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pkfin.kotenterprises.dev\/index.php?rest_route=\/wp\/v2\/media\/2649"}],"wp:attachment":[{"href":"https:\/\/pkfin.kotenterprises.dev\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5146"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pkfin.kotenterprises.dev\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5146"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pkfin.kotenterprises.dev\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5146"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}