Recommended Free Tools
Pakistan’s PRISM+ is a State Bank of Pakistan (SBP) system for settling large-value interbank payments and handling government securities and money-market operations. It is institutional financial-market infrastructure, not an app or service for consumers making everyday payments.
What PRISM+ does
PRISM+ stands for Pakistan Real-Time Interbank Settlement Mechanism Plus. Operated by SBP, it combines a real-time gross settlement (RTGS) system for funds with a Central Securities Depository (CSD) module. The operating rules cover participation, CSD operations, account management, settlement finality, efficiency and operational continuity. SBP’s PRISM+ operating rules, issued April 16, 2026, apply to existing and future participants.
RTGS settles payment instructions individually and in real time rather than waiting to process them in a batch. The integrated CSD supports government-securities auctions, secondary-market transactions, collateral management and open-market operations. Together, these functions connect large-value funds settlement with securities-related activity.
How the system handles payments and securities
SBP’s June 11, 2025 launch circular describes PRISM+ as built on ISO 20022, a financial messaging standard designed to carry structured, detailed information. SBP said: “PRISM+ is built on the ISO 20022 financial messaging standard which supports structured and data-rich financial communication, enabling enhanced transparency, interoperability, and automation across the payment and settlement ecosystem.”
The Tool Desk
Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →Outbyte Driver Updater FREEFix the driver behind crashes, sound loss and screen glitchesFind Drivers →#1 Best Overall
- With Square Terminal, you can ring up sales, accept payments, and print receipts, all with one device. Use it at the counter or ring up customers anywhere in your store.
- Accept all major credit and debit cards and pay one low rate with no hidden fees and no long-term contracts.
- Process chip cards in just two seconds.
- Get your money as soon as the next business day.
- Use it cordlessly with the built-in battery, designed to last all day.
The circular also identifies liquidity-management tools, transaction queues and prioritization, future-dated payments, dashboards, alerts, query tools and settlement-position statements. A web-based module lets participants initiate, monitor and approve transactions. These are features for participating institutions, not consumer-facing payment controls.
PRISM+ and Raast serve different users
| System | Primary role | Typical scope |
|---|---|---|
| PRISM+ | Large-value interbank settlement and securities infrastructure operated by SBP | Interbank funds settlement, government securities and money-market operations |
| Raast | SBP’s retail instant-payment system | Small-value payments |
They address different payment needs; SBP’s materials do not describe them as substitutes. For a person sending a routine retail payment, Raast is the relevant system category. PRISM+ operates behind the scenes for institutional settlement.
Rank #2
- Our team provides expert guidance, onboarding assistance, and payment processing consultation to help businesses deploy Square solutions effectively.
- Complete Business Payment Solution - Accept EMV chip cards, contactless payments, NFC wallets, and traditional credit and debit card transactions. Square Terminal combines payment acceptance, receipt printing, and business management tools in a compact all-in-one device.
- Expert POS Deployment Support - Unlike standard online purchases, SwyftPAY provides hands-on onboarding assistance from payment industry professionals with over 50 years of experience serving retail, restaurant, mobile, and service-based businesses.
- Designed for Growing Businesses - Ideal for retail stores, restaurants, food trucks, service contractors, salons, medical offices, professional services firms, and other businesses seeking a modern payment acceptance solution.
- Equipment ships after signup with Square, through SwyftPAY
When PRISM+ began operating
The dates refer to two distinct milestones: PRISM+ began operating on June 16, 2025, and SBP Governor Jameel Ahmad formally inaugurated it at a public ceremony in Karachi on August 19, 2025. SBP announced the operational date in a circular issued June 11, 2025; its 2026 operating rules and FY2024–25 review also identify June 16 as the start of operations.
What the launch transition meant for participants
SBP’s 2025 circular set technical and channel transition instructions for participating institutions. These deadlines have passed and are historical, rather than current instructions:
Rank #3
- PAYMENT TERMINAL: The Verifone P400 is a compact, customer-facing payment terminal engineered for efficient checkout experiences. Powered by a 600 MHz Arm Cortex-A9 processor and Linux-based V/OS, it combines reliable performance, intuitive operation, and durable construction for modern retail and service environments.
- MULTIPLE PAYMENT OPTIONS: Accept a wide range of payment methods with support for triple-track magnetic stripe cards, EMV chip cards, and NFC/contactless transactions. Compatible with major contactless payment schemes and ISO standards, the P400 delivers flexible payment acceptance for diverse customer preferences.
- VIVID TOUCHSCREEN DISPLAY: Equipped with a 3.5-inch HVGA color capacitive touchscreen featuring Corning Gorilla Glass technology, the P400 offers a responsive and user-friendly interface. The bright display enhances customer interaction, making payment verification, PIN entry, and transaction processing quick and convenient.
- SECURE TRANSACTIONS: Designed with PCI PTS 5.x approval and EMVCo-certified technologies, the Verifone P400 helps safeguard sensitive payment information. Advanced security architecture, secure card authentication, and support for encrypted payment processing provide enhanced protection during every transaction.
- VERSATILE CONNECTIVITY: Integrate seamlessly with existing POS infrastructures using Ethernet, USB, and RS232 connectivity options. The P400 also supports optional Wi-Fi or Bluetooth configurations, enabling flexible deployment across retail counters, hospitality environments, and service-based businesses while maintaining dependable performance.
- Participants were asked to prepare for straight-through processing through APIs or file adapters.
- Both MT and ISO 20022 MX message formats were to be supported through September 30, 2025. SBP said the native MT/MX converter would be discontinued from October 1, 2025.
- Participants were instructed to replace branch RTGS over-the-counter customer transactions with Raast OTC by September 30, 2025.
On April 16, 2026, SBP issued revised PRISM+ operating rules that superseded the prior PRISM rules and apply to current and future PRISM+ participants.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How to interpret the PKR 1,043 trillion figure
SBP reported that the predecessor PRISM processed more than PKR 1,043 trillion during FY24. That figure describes PRISM activity in fiscal year 2024, before PRISM+ began operating. It is not a PRISM+ transaction-volume figure or a measure of PRISM+ performance after launch.
Quick Recap
Best Value
- Get your money as soon as the next business day.
- Get set up quickly with no long-term commitments. Download the Square Point of Sale app for free, create an account, and start taking payments anywhere.
- Run your business all in one place with the free Square Point of Sale app. Track your sales, manage inventory, accept tips, send receipts digitally, and more.
- Works with Apple devices with a Lightning connector.
Rank #4
- Runs on the advanced VX Evolution platform - powered by the time-tested Verix operating system, with over 7 million Verix-based devices sold
- Takes advantage of the industry's fastest processor to handle encryption, decryption and processing at lightning speeds - moving more transactions in the same time for greater profits
- Uniquely designed communication port area neatly connects cables under the device for clean countertops
- PCI PED 2.0 approval is standard, with the option of PCI PTS 3.0, Reassuring Confidence From Full Spectrum Security
- Dual Comm- 160 mb processing PN: M252-653-03-NAA-2
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
