Pakistan’s Digital Transactions Surge: 88% of Retail Payments Now Digital
- Digital Payments Reach 1,450 Million Transactions, Covering 88% of Retail Payments
Pakistan’s financial ecosystem is experiencing a significant digital shift, with digital channels processing 88% of all retail transactions. Mobile banking apps, branchless banking (BB) wallets, and e-money wallets collectively handled 1,450 million transactions worth Rs. 24 trillion in Q2-FY25. This marks a 12% increase in volume and a 28% rise in transaction value, as per the State Bank of Pakistan’s (SBP) Quarterly Payment Systems Review.
- 103.3 Million Digital Banking Users Drive Growth
The expansion of digital banking services is reflected in the increasing number of users across different platforms:
21 million mobile banking users (7% increase).
4.7 million e-money wallet users (13% increase).
64.3 million BB wallet users (7% increase).
13.3 million internet banking users (7% increase).
This growing user base is a testament to the increasing trust and adoption of digital financial services in Pakistan.
- E-Commerce Transactions Surge 30% to 152 Million, Reaching Rs. 193 Billion
E-commerce transactions have seen substantial growth, indicating a shift toward cashless transactions:
152 million e-commerce transactions, up 30% in volume.
Total value reached Rs. 193 billion, reflecting a 32% increase.
8% (12.8 million transactions) were made via cards, while 92% (139.5 million) were conducted through digital wallets/accounts.
In terms of value, cards contributed 33%, while digital wallets accounted for 67%.
- POS Transactions Grow to 89 Million, Valued at Rs. 510 Billion
Merchant payments through 115,177 POS-enabled merchants using 151,646 terminals also experienced growth:
89 million in-store transactions (7% increase).
Rs. 510 billion total transaction value (19% increase).
Additionally, retail and kiryana stores accepting QR code or BB wallet payments processed 22.1 million transactions worth Rs. 58 billion, marking 4% and 9% growth, respectively.
- Raast and RTGS Process Rs. 336.4 Trillion in Digital Payments
Pakistan’s digital financial ecosystem is supported by SBP-operated payment systems, which have played a crucial role in accelerating digital payments:
Raast processed 296 million transactions worth Rs. 6.4 trillion in Q2-FY25. Since its launch, Raast has facilitated 1,144 million transactions valued at Rs. 26 trillion.
RTGS settled large-value transactions worth Rs. 330 trillion, marking a 19% increase in value.
These systems have significantly improved the speed, reliability, and efficiency of digital transactions in Pakistan.
- Retail Transactions Reach 2,143 Million, Valued at Rs. 154 Trillion
Retail transactions also showed strong growth:
2,143 million transactions, reflecting an 11% increase in volume.
Total transaction value reached Rs. 154 trillion, a 12% rise.
This growth was largely driven by:
Mobile banking transactions
Internet banking payments
Over-the-counter (OTC) banking services
- Pakistan’s Digital Economy Expands as SBP Leads Financial Inclusion
Pakistan’s journey towards a cashless economy is being propelled by SBP’s strategic initiatives and partnerships with banks, fintech firms, and payment service providers. As digital payments continue to expand, SBP remains focused on:
Enhancing financial inclusion.
Improving payment system efficiency.
Encouraging innovation in digital banking.
Conclusion: Digital Payments Are Reshaping Pakistan’s Economy
The rapid growth in digital transactions, increasing user adoption, and expansion of digital payment infrastructure signal a strong shift towards a digital financial ecosystem in Pakistan. With continued regulatory support and technological advancements, the country is on track to further drive financial inclusion and economic digitization.