Payment System is about how participants from individuals to banks, governments and international participants exchange monetary value within an economy and across national borders.

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Payment systems in Pakistan have evolved significantly over the last decade, driven by the development of new payment instruments, electronic payment infrastructure and changing consumer needs.  This development has resulted in rapid shift from the use of traditional paper instruments to a diverse range of electronic payment instruments, supported by efficient and reliable clearing and settlement infrastructure. .

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An RTGS system is defined as a gross settlement system in which both processing and final settlement of funds transfer instructions can take place continuously (i.e. in real time). As it is a real-time settlement system, the system effects final settlement continuously rather than periodically at pre-specified times provided that a sending bank has sufficient covering balances or credit.

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In order to create an enabling regulatory environment and bring systemic harmony, introduce standardization and setting benchmarks, SBP issued Rules for Payment System Operators (PSOs) and Payment Service Providers (PSPs).