KARACHI: As part of its Vision 2028 initiative, the State Bank of Pakistan (SBP) has announced the launch of the Pakistan Real-Time Interbank Settlement Mechanism Plus (PRISM+), effective from June 16, 2025. This move aims to enhance the country’s National Digital Payments Infrastructure.
PRISM+ is based on the ISO 20022 financial messaging standard, which facilitates structured, data-rich communication to improve transparency, interoperability, and automation across the payments and settlement ecosystem.
The upgraded system introduces advanced features such as liquidity management, transaction queuing and prioritization, and the scheduling of future-dated payments. Additionally, it offers a user-friendly web-based interface with customizable dashboards, alerts, query tools, and downloadable settlement position statements for real-time transaction initiation, monitoring, and approval.
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