Pakistan’s Digital Payment Surge Faces Cultural and Infrastructure Hurdles Amid Cash Reliance
Pakistan is experiencing rapid growth in digital payments with platforms like Raast, JazzCash, and Easypaisa driving transactions, yet cash remains dominant due to awareness gaps and cultural habits.
Pakistan Accelerates Towards a Cashless Future with Rapid Digital Payments Growth
Pakistan’s digital payments ecosystem recorded significant growth in FY 2024-25, with a 38% rise in transactions, widespread adoption of QR payments, and expanded branchless banking services, marking a major step towards a cashless and inclusive economy.
Pakistan’s Digital Payment Volumes Hit PKR 612 Trillion as Retail Transactions Climb 38% in FY24–25
Pakistan’s payment ecosystem recorded strong digital adoption in FY24–25, with retail transactions rising 38% to 9.1 billion and digital channels capturing 88% of activity, driven by mobile banking, Raast, and EMI wallets.
Mashreq Group CEO Ahmed Abdelaal Reaffirms Commitment to Pakistan’s Digital Future
Mashreq Group CEO Ahmed Abdelaal emphasized the bank’s commitment to supporting Pakistan’s vision of a digital and cashless economy, highlighting the role of innovation and global expertise in driving financial transformation.
SBP Orders Banks to Deploy Cash Deposit Machines Nationwide by 2028
The State Bank of Pakistan has directed commercial banks to install Cash Deposit Machines across 25% of their branch network by 2028 to promote self-banking, enhance customer convenience, and strengthen digital infrastructure.
Digital Payments Dominate Retail Transactions in Pakistan, Hitting 89% Share in Q3 FY25
In Q3 FY25, digital payments accounted for 89% of Pakistan’s retail transactions by volume, with mobile banking, e-wallets, and Raast leading the shift toward a cashless economy, according to SBP’s latest report.