Islamabad, June 25, 2025: In a major milestone for Pakistan’s financial landscape, digital payment channels accounted for 89% of retail transactions by volume in Q3 FY25, according to the State Bank of Pakistan’s (SBP) latest Quarterly Payment Systems Review. The report highlights a sharp rise in both transaction volume and value, reflecting the country’s accelerating shift towards a cashless economy.
Retail transactions climbed to 2,408 million, marking a 12% increase, while their monetary value surged to Rs. 164 trillion. At the heart of this growth are mobile banking apps, branchless banking (BB) wallets, and e-money wallets, which collectively processed 1,686 million transactions worth Rs. 27 trillion—up by 16% in volume and 22% in value from the previous quarter.
The adoption of mobile banking in Pakistan also saw steady growth. Mobile app users increased to 22.6 million (up 7%), BB wallet users rose to 68.5 million (up 6%), and e-money wallet users hit 5.3 million (up 12%). Meanwhile, internet banking users reached 14.1 million, a 7% rise compared to the last quarter.
E-commerce saw explosive growth, with 213 million digital transactions (up 40%) valued at Rs. 258 billion (up 34%). Digital wallets dominated the sector, handling 94% of e-commerce payments. In contrast, card-based payments accounted for just 6%, showing consumer preference for wallet-based solutions.
In physical retail, 140,861 merchants processed 99 million transactions through 179,383 POS terminals, amounting to Rs. 550 billion, up 8%. Additionally, QR code-based payments continued to gain ground, recording 21.7 million transactions worth Rs. 61 billion.
SBP’s key infrastructure—Raast and RTGS—played a pivotal role. Raast facilitated 371 million instant transactions totaling Rs. 8.5 trillion, bringing its cumulative value to Rs. 34 trillion. Meanwhile, the RTGS system handled 1.5 million high-value transactions worth an impressive Rs. 347 trillion.
Read More: PTA & GDIP Unite for Inclusive Digital Future
With strategic backing from SBP and growing collaboration among banks and fintech firms, Pakistan’s digital economy is set to expand further. The central bank remains committed to promoting financial inclusion and enhancing payment efficiency through continuous innovation.
