KARACHI: The State Bank of Pakistan (SBP) has officially launched its upgraded and advanced payment system, Prism Plus, aimed at strengthening and modernizing the country’s large-value payments infrastructure.
The inauguration ceremony, held at the National Institute of Banking and Finance, was led by SBP Governor Jamil Ahmed and attended by CEOs of banks, microfinance institutions, and representatives of payment system operators and providers.
Governor Jamil Ahmed described Prism Plus as a landmark achievement in the development of Pakistan’s financial system. He emphasized that the new system will play a pivotal role in supporting the SBP’s Vision 2028, which seeks to establish a strong and sustainable digital financial ecosystem.
Prism Plus is an enhanced version of the Real-Time Interbank Settlement Mechanism (PRISM). It incorporates the ISO 20022 global messaging standard, placing Pakistan among countries that have adopted this international benchmark. This standard enables better structured communication, enhanced interoperability, and increased transparency in financial transactions.
Key features of Prism Plus include:
- Real-time liquidity management
- Transaction queuing and prioritization tools
- Future-dated payment scheduling
- Seamless integration with the Central Securities Depository for auctions, repos, and other monetary operations
Highlighting the scale of digital transactions in the country, the Governor shared that the original PRISM processed over Rs104.3 trillion in FY 2023-24, more than ten times Pakistan’s GDP. With Prism Plus, the capacity and efficiency have been significantly upgraded to cater to the evolving financial market.
Governor Ahmed also pointed to Pakistan’s growing shift toward digital finance. With 220 million bank and wallet accounts and 28 million registered users of banking apps, he said the trend reflects strong momentum in digital adoption.
To safeguard this progress, the SBP has ensured strict cybersecurity measures, anti-money laundering checks, fraud management systems, and robust regulations. He credited the World Bank Group for its technical and financial support, and praised SBP teams, consultants, and technology partners for completing the project in just 14 months.
“Prism Plus is not just a technological upgrade, but a strategic asset for Pakistan’s economy,” Governor Jamil Ahmed said. “It will help strengthen trust, support innovation, and build a digitally empowered and inclusive financial ecosystem.”
The launch of Prism Plus marks a major step forward in Pakistan’s journey toward a modern, transparent, and secure digital payments landscape.
