Pakistan’s digital payments ecosystem is booming! 📈 88% of all retail transactions were processed through digital channels, with mobile banking apps, branchless banking wallets, and e-money wallets leading the way. 💳📱
According to the State Bank of Pakistan (SBP), the country saw a 12% increase in digital transaction volume and a 28% rise in value, signaling strong growth in the fintech sector.
📊 Digital Banking Usage on the Rise!
Pakistan’s shift towards a cashless economy is evident, with more users adopting digital banking services:
✅ Mobile banking app users: 21 million (+7%)
✅ Branchless banking (BB) wallet users: 64.3 million (+7%)
✅ E-money wallet users: 4.7 million (+13%)
✅ Internet banking users: 13.3 million (+7%)
🛒 E-commerce & Merchant Payments Soar!
The online shopping and digital merchant payment ecosystem saw record-breaking growth:
🔹 E-commerce transactions: 152 million (+30%) 📦
🔹 E-commerce payment value: Rs. 193 billion (+32%) 💰
🔹 Card-based e-commerce transactions: 12.8 million (8%) 💳
🔹 Digital wallet/account-based payments: 139.5 million (92%) 📲
🔹 POS (Point of Sale) transactions: 89 million (+7%) 🏪
🔹 Retail & kiryana store QR/BB wallet payments: 22.1 million (+4%)
🚀 Raast & RTGS Driving Instant Payments
SBP’s Raast (Instant Payment System) and RTGS (Real-Time Gross Settlement System) are revolutionizing Pakistan’s payments landscape:
🔹 Raast transactions in Q2-FY25: 296 million, worth Rs. 6.4 trillion 💸
🔹 Total Raast transactions since launch: 1,144 million, valued at Rs. 26 trillion 📈
🔹 RTGS large-value settlements: Rs. 330 trillion (+19%)
📢 The Future of Digital Payments in Pakistan
With SBP’s continued initiatives, fintech collaborations, and growing financial inclusion efforts, Pakistan is rapidly transforming into a digitally-driven economy. Expect even faster, safer, and more accessible digital transactions ahead! 🚀💡
📞 Stay Updated on Pakistan’s Digital Economy!
🔗 Want to know more? Check out SBP’s Quarterly Payment Systems Review for Q2-FY25!
📢 Do you prefer digital payments over cash? Share your thoughts in the comments! 👇
