SBP Launches Mojaloop Payments Accelerator in Pakistan: 16 Weeks, November 2026 to February 2027

The State Bank of Pakistan launched a 16-week Mojaloop Country Accelerator Program on 3 November 2026. It runs from November 2026 to February 2027 and trains Pakistani payment system builders on Mojaloop, free open-source software for instant digital payments. It is the first project under a new collaboration framework for SBP's Innovation Hub.

We read the SBP press release of 3 November 2026 and the Innovation Hub page on sbp.org.pk on 4 November. Nothing changes for your Raast transfers, bank app or wallet today. This is a training and skills programme for the companies that build payment systems, not a new service for customers. Below we explain what was announced, who it is for, and why it matters for ordinary account holders later.

SBP started the Mojaloop accelerator on 3 November 2026

SBP launched the programme at a ceremony at SBP Karachi on 3 November 2026. Deputy Governor Saleem Ullah addressed it, and banks, fintechs, technology firms and universities attended. The programme lasts 16 weeks, from November 2026 to February 2027.

The press release gives these facts:

Mojaloop is free software for instant payments between providers

Mojaloop is open-source payment software. Open source means anyone can read, use and change the code without paying a licence fee. The Mojaloop Foundation, a non-profit, maintains it. It is built to connect banks, wallets and other providers so that money can move between them instantly.

In Pakistan, that job is already done by Raast for instant bank and wallet transfers, and by 1Link for IBFT and ATM switching. The SBP press release does not say that Raast will move to Mojaloop, and it does not name any system that will be built on it. So read this as skills building, not as a switch of Pakistan's payment rails.

If you want to understand the system you already use, our guide to how Raast works covers transfers, Raast IDs and limits.

The programme trains payment builders, not bank customers

SBP says the programme is designed for local system implementers, digital financial service providers and payment hub operators. Participants also join the Mojaloop technical community, so they can keep learning after the 16 weeks end.

That means three kinds of organisation can benefit:

1. System implementers. Software firms that install and run payment platforms for banks and fintechs.
2. Digital financial service providers. Banks, digital banks, electronic money institutions and wallets.
3. Payment hub operators. Companies that run the switches that route payments between providers.

The press release does not publish an application link, a fee or a seat count. The Innovation Hub page on sbp.org.pk has a contact section for partnership and engagement queries. A firm that wants to take part should ask SBP through that page rather than rely on social media posts.

The Innovation Hub framework allows non-exclusive partnerships

SBP also launched a Collaboration Framework for its Innovation Hub on the same day. The Hub was set up under SBP Vision 2028 as SBP's platform for working with fintech firms. The framework covers capacity building, knowledge exchange and ecosystem development.

SBP describes these partnerships as non-exclusive, technology-neutral and provider-neutral. In plain words, SBP is not picking one vendor or one technology. Mojaloop is the first partner, and the framework leaves room for others.

The Hub sits next to SBP's Regulatory Sandbox, where firms test new products under supervision. We covered the second Regulatory Sandbox cohort in October. SBP is also consulting on draft open banking regulations, with comments due by 30 November 2026.

What this means for your bank account and wallet

For now, nothing changes for account holders. Your Raast ID, IBFT charges, ATM fees and app limits stay the same. No new app or account type was announced.

The longer-term aim, in SBP's words, is to strengthen local technical skills and expand access to digital financial services. More local engineers who understand instant payment systems can mean faster fixes and more providers able to connect to Pakistan's payment network. But the press release makes no promise of a date or a product.

• Do not trust anyone who asks you to register for "Mojaloop" with your CNIC or bank details. There is no customer sign-up.
• Do not install any app that claims to be a Mojaloop wallet for Pakistan. SBP has not announced one.
• If a payment fails, the complaint still goes to your own bank first, then to SBP's Sunwai portal.

Digital payments are already the main channel. SBP's own payment systems review for FY26 shows how far the shift has gone.

Common questions

What is the SBP Mojaloop accelerator?

A 16-week training programme for payment system builders in Pakistan, run with the Mojaloop Foundation from November 2026 to February 2027. SBP announced it on 3 November 2026.

Is Raast moving to Mojaloop?

SBP has not said so. The press release describes a skills and knowledge programme and does not mention changing Raast.

Can an ordinary person join the Mojaloop programme?

It is designed for system implementers, digital financial service providers and payment hub operators. SBP did not publish an individual sign-up in its press release.

Do I need to do anything with my bank account?

No. Your account, Raast ID and app work as before. Ignore any message asking you to register for Mojaloop.

What is the SBP Innovation Hub?

SBP's platform for working with fintech firms, set up under SBP Vision 2028. It runs alongside the Regulatory Sandbox, where new products are tested under supervision.

How we verified this

What we checked, where we read it, and what we could not confirm.

We read the SBP press release of 3 November 2026 and the SBP Innovation Hub page on 4 November 2026. The press release does not give an application route, fee or number of participants, so we do not state any. We have not seen any SBP statement that Raast will be rebuilt on Mojaloop.