The State Bank of Pakistan (SBP) has reported continued growth in the country’s digital payment landscape, with a 12% increase in retail transaction volumes and an 8% rise in value during the third quarter of FY25. According to SBP’s Quarterly Payment Systems Review, total retail transactions reached 2.4 billion, valued at PKR 164 trillion, with 89% conducted through digital channels.
Mobile apps, including banking apps and e-wallets, processed 1.7 billion transactions worth PKR 27 trillion—up 16% in volume and 22% in value. Mobile banking app users rose 7% to 22.6 million, while e-money and branchless wallet users increased to 5.3 million (up 12%) and 68.5 million (up 6%) respectively.
E-commerce transactions climbed 40% in volume to 213 million and 34% in value to PKR 258 billion, with digital wallets accounting for 94% of the total. In-store POS transactions reached 99 million, worth PKR 550 billion, processed by over 140,000 merchants. QR code payments also grew, with 21.7 million transactions totalling PKR 61 billion.
SBP’s own platforms, Raast and RTGS, played a key role. Raast processed 371 million transactions worth PKR 8.5 trillion this quarter, bringing cumulative volume since launch to 1.5 billion and value to PKR 34 trillion. RTGS handled PKR 347 trillion in large-value payments across 1.5 million transactions.
The central bank credited the growth to its digital finance strategy and collaborative efforts by banks, fintechs, and payment providers, reaffirming its commitment to financial inclusion and payment system efficiency.
