Pakistan’s Digital Payment Ecosystem Sees Robust Growth in Q1 FY25: SBP Report

The State Bank of Pakistan’s (SBP) Quarterly Payment Systems Review for Q1 FY25 highlights notable progress in digital payments and financial inclusion. Retail payment volume rose 8% to 1,951 million transactions worth PKR 136 trillion. Digital payments accounted for 87% of retail transactions, with mobile banking apps playing a key role by processing 1,301 million transactions worth PKR 19 trillion, reflecting significant public trust in digital platforms.

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E-commerce experienced a remarkable 29% growth, with 91% of its 118 million transactions made through digital wallets, signaling a shift from traditional card-based payments. The Point-of-Sale (POS) network expanded to 132,224 terminals, enabling transactions worth PKR 429 billion, while the ATM network processed 243 million transactions worth PKR 3.9 trillion.

Efforts to reach underserved areas gained traction, with 693,178 branchless banking agents processing millions of transactions. Additionally, the Raast instant payment system facilitated 197 million transactions worth PKR 4.7 trillion, underscoring the nation’s transition toward a cashless economy through collaborative efforts by banks, fintechs, and regulators.

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