Pakistan registered a major leap in digital finance during FY24–25, as the State Bank of Pakistan released its Annual Payment Systems Report detailing a significant rise in electronic transactions, strengthening infrastructure, and deepening adoption of mobile-first banking services. The data reflects an increasingly technology-driven financial landscape, reinforced by regulatory support and rapid consumer migration toward fast, secure, and traceable digital channels.
Retail payment activity rose to 9.1 billion transactions worth PKR 612 trillion, marking a 38 percent jump in transaction volumes and 12 percent growth in overall value from the preceding fiscal year. The expansion demonstrates growing preference for digital tools across individuals, enterprises, and institutions, illustrating continued improvement in Pakistan’s payment maturity and user readiness.
Digital channels accounted for 88 percent of all retail transactions during the fiscal year, up from 78 percent just two years ago. Mobile banking accounted for the largest share of adoption, recording 6.2 billion transactions and advancing 52 percent year-on-year as users increasingly rely on mobile phones to conduct everyday transactions, manage finances, and pay digitally instead of using conventional channels. Internet banking also expanded, processing 297 million transactions, representing 33 percent annual growth.
Electronic money wallets continued their strong ascent, doubling in volume and value, supported by rising comfort with EMI platforms and greater reach among semi-banked and unbanked segments. The increase underscores the role of fintechs in improving access, lowering onboarding barriers, and enabling digital participation for broader segments of society.
Pakistan’s instant payment platform, Raast, remained a structural driver of transformation. The platform recorded more than double the volume and value of transactions compared to last year, benefiting from expanded participation and growing trust in real-time transfers. The launch of Raast Person-to-Merchant payments added a new payment rail for retail commerce, helping reduce friction for merchants, lower transaction costs, and expand acceptance for digital payments among small and mid-scale businesses.
Payment infrastructure also strengthened. The Point-of-Sale network increased to 195,849 terminals deployed at 159,284 merchant sites nationwide, supporting nearly one million card transactions per day. This stands in contrast to the 0.7 million milestone achieved during the previous fiscal year, reflecting stronger merchant digitization and card acceptance growth. E-commerce also continued to shift away from legacy payment behavior, with 93 percent of online transactions now routed through bank accounts and wallets rather than cash on delivery. ATM infrastructure grew 7 percent to 20,341 machines, with each machine averaging 140 transactions daily, demonstrating parallel demand for withdrawal services in a hybrid transition environment.
Large-value infrastructure advanced with the deployment of PRISM+, the upgraded Real-Time Gross Settlement system, which delivered improved efficiency and transparency. The system posted double-digit growth in settlement volumes, largely driven by interbank transactions and government securities transfers, marking a key step in strengthening wholesale settlement infrastructure.
The State Bank reaffirmed its focus on expanding secure, inclusive, and efficient payment rails, ensuring alignment with global benchmarks while continuing to invest in cybersecurity, public trust, and resilient operations. The latest data signals sustained support for Pakistan’s shift toward digital finance, with accelerated adoption patterns, expanding financial access, and growing infrastructure depth shaping the future of national payments.
Follow the PakBanker Whatsapp Channel for updated across Pakistan’s banking ecosystem.