The State Bank of Pakistan (SBP) has released its first quarterly report on the payment systems for the current fiscal year 2025-26, highlighting significant developments and emerging trends shaping the sector.
During the first quarter, retail payments reached 2.8 billion transactions, marking a 10% growth compared to the previous quarter. The total value of these payments rose to PKR 166 trillion, a 6% increase, primarily driven by the growing use of mobile banking apps. Digital payments accounted for 2.5 billion transactions (90% of total retail payments), up from 87% in the previous quarter, with a total value of PKR 55 trillion.
Mobile app-based payments dominated the digital landscape, recording 2 billion transactions worth PKR 33.7 trillion, covering person-to-person (P2P) transfers, bill payments, and account/wallet-based merchant payments both online and at physical retail outlets. Internet banking usage also continued to grow.
The number of payment cards in circulation reached 61.3 million, with 90% debit cards and 4% credit cards. The Raast instant payment system maintained steady growth, with P2P transactions rising 31% to 535 million worth PKR 11.3 trillion, while person-to-merchant (P2M) transactions doubled to 4.3 million valued at PKR 17 billion. Overall, Raast recorded 544 million transactions worth PKR 12.8 trillion.
POS terminals and e-commerce activity also increased, with 1.5 million card transactions daily. ATMs processed 267 million transactions worth PKR 4.5 trillion across 20,527 ATMs, averaging 142 transactions per ATM daily at PKR 16,800 per transaction.
Physical banking points continued to support retail payments. 19,852 bank branches and 756,480 branchless banking agents facilitated cash deposits, withdrawals, transfers, and bill payments. Branches processed 137 million transactions worth PKR 110 trillion, while branchless agents handled 129 million transactions totaling PKR 0.9 trillion.
Overall, the report reflects Pakistan’s steady progress toward a more efficient, inclusive, and digital payment ecosystem.
