KARACHI: The State Bank of Pakistan (SBP) has reported a significant increase in digital payment adoption across the country, with 92 percent of retail transactions conducted through digital channels during the third quarter of fiscal year 2025-26.
According to the central bank’s latest quarterly payment systems review, Pakistan’s banking system processed 3.7 billion retail transactions worth Rs168.8 trillion during the period. Of these, 92 percent were completed through digital payment channels, reflecting a 9 percent increase compared with the corresponding period last year.
The report highlighted continued growth in mobile and online banking services as consumers increasingly shifted away from traditional cash-based transactions. Payments conducted through mobile banking applications, internet banking platforms, automated teller machines (ATMs), point-of-sale (POS) terminals and e-commerce channels reached 3.4 billion transactions during the quarter.
Digital wallets also played a major role in the country’s evolving payments landscape, facilitating transactions worth Rs68 trillion during the reporting period.
The SBP noted that branchless banking services, electronic money institutions (EMIs) and mobile applications processed 2.9 billion transactions. The value of these transactions rose by 19 percent to Rs42 trillion, while the number of transactions increased by 5 percent compared with the previous year.
The report further underscored the growing importance of Raast, Pakistan’s instant payment system. During the quarter, Raast processed 742.1 million transactions with a total value of Rs23.3 trillion.
Person-to-person (P2P) payments through Raast increased by 10 percent, reaching 664 million transactions. Meanwhile, person-to-merchant (P2M) payments recorded even stronger growth, rising from 36.3 million transactions to 55.9 million, indicating increasing acceptance of digital payments among businesses and merchants.
Despite the rapid expansion of digital channels, traditional banking infrastructure continued to play a key role in serving customers. The report stated that 20,232 bank branches and more than 8.1 million banking agents provided over-the-counter services nationwide.
Bank branches processed 128 million transactions valued at Rs99.5 trillion, while banking agents handled 155 million transactions with a combined value of Rs1.1 trillion.
The latest figures reflect Pakistan’s ongoing transition toward a digital economy, supported by expanding financial technology services, wider smartphone adoption and government efforts to promote secure and efficient electronic payments. Analysts say the continued growth of digital transactions could enhance financial inclusion, improve transparency and reduce reliance on cash across the economy.
