Pakistanβs digital payments ecosystem is booming! π 88% of all retail transactions were processed through digital channels, with mobile banking apps, branchless banking wallets, and e-money wallets leading the way. π³π±
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.
π Digital Banking Usage on the Rise!
Pakistanβs shift towards a cashless economy is evident, with more users adopting digital banking services:
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Mobile banking app users: 21 million (+7%)
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Branchless banking (BB) wallet users: 64.3 million (+7%)
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E-money wallet users: 4.7 million (+13%)
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Internet banking users: 13.3 million (+7%)
π E-commerce & Merchant Payments Soar!
The online shopping and digital merchant payment ecosystem saw record-breaking growth:
πΉ E-commerce transactions: 152 million (+30%) π¦
πΉ E-commerce payment value: Rs. 193 billion (+32%) π°
πΉ Card-based e-commerce transactions: 12.8 million (8%) π³
πΉ Digital wallet/account-based payments: 139.5 million (92%) π²
πΉ POS (Point of Sale) transactions: 89 million (+7%) πͺ
πΉ Retail & kiryana store QR/BB wallet payments: 22.1 million (+4%)
π Raast & RTGS Driving Instant Payments
SBPβs Raast (Instant Payment System) and RTGS (Real-Time Gross Settlement System) are revolutionizing Pakistanβs payments landscape:
πΉ Raast transactions in Q2-FY25: 296 million, worth Rs. 6.4 trillion πΈ
πΉ Total Raast transactions since launch: 1,144 million, valued at Rs. 26 trillion π
πΉ RTGS large-value settlements: Rs. 330 trillion (+19%)
π’ The Future of Digital Payments in Pakistan
With SBPβs 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! ππ‘
π Stay Updated on Pakistanβs Digital Economy!
π Want to know more? Check out SBPβs Quarterly Payment Systems Review for Q2-FY25!
π’ Do you prefer digital payments over cash? Share your thoughts in the comments! π