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Digital Payments Dominate Retail Transactions in Pakistan – 88% Now Cashless! πŸš€

Digital payments in Pakistan now cover 88% of retail transactions! Learn how mobile banking, e-wallets, and fintech are driving financial inclusion.

Pakistan’s digital payments ecosystem is booming! πŸ“ˆ 88% of all retail transactions were processed through digital channels, with mobile banking apps, branchless banking wallets, and e-money wallets leading the way. πŸ’³πŸ“±

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.


πŸ“Š Digital Banking Usage on the Rise!

Pakistan’s shift towards a cashless economy is evident, with more users adopting digital banking services:

βœ… Mobile banking app users: 21 million (+7%)
βœ… Branchless banking (BB) wallet users: 64.3 million (+7%)
βœ… E-money wallet users: 4.7 million (+13%)
βœ… Internet banking users: 13.3 million (+7%)


πŸ›’ E-commerce & Merchant Payments Soar!

The online shopping and digital merchant payment ecosystem saw record-breaking growth:

πŸ”Ή E-commerce transactions: 152 million (+30%) πŸ“¦
πŸ”Ή E-commerce payment value: Rs. 193 billion (+32%) πŸ’°
πŸ”Ή Card-based e-commerce transactions: 12.8 million (8%) πŸ’³
πŸ”Ή Digital wallet/account-based payments: 139.5 million (92%) πŸ“²
πŸ”Ή POS (Point of Sale) transactions: 89 million (+7%) πŸͺ
πŸ”Ή Retail & kiryana store QR/BB wallet payments: 22.1 million (+4%)


πŸš€ Raast & RTGS Driving Instant Payments

SBP’s Raast (Instant Payment System) and RTGS (Real-Time Gross Settlement System) are revolutionizing Pakistan’s payments landscape:

πŸ”Ή Raast transactions in Q2-FY25: 296 million, worth Rs. 6.4 trillion πŸ’Έ
πŸ”Ή Total Raast transactions since launch: 1,144 million, valued at Rs. 26 trillion πŸ“ˆ
πŸ”Ή RTGS large-value settlements: Rs. 330 trillion (+19%)


πŸ“’ 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! πŸš€πŸ’‘


πŸ“ž Stay Updated on Pakistan’s Digital Economy!

πŸ”— Want to know more? Check out SBP’s Quarterly Payment Systems Review for Q2-FY25!

πŸ“’ Do you prefer digital payments over cash? Share your thoughts in the comments! πŸ‘‡

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