Pakistan's digital payment landscape continued to expand during the third quarter of fiscal year 2025-26, with digital channels accounting for 92 percent of all retail transactions, 24NewsHD TV reported on Friday.
According to the latest Payment Systems Review released by the State Bank of Pakistan (SBP), 3.7 billion retail transactions, worth Rs168.8 trillion, were processed during the quarter.
According to the report, 3.4 billion digital transactions, valued at Rs68 trillion, were completed through electronic payment channels.
Mobile banking applications remained the most popular payment method, facilitating 2.9 billion transactions and accounting for 78 percent of all digital payment volumes.
The SBP said internet banking also witnessed significant growth in both the number and value of transactions.
Pakistan's instant payment platform, Raast, maintained its strong growth momentum by processing 742 million transactions worth Rs23.3 trillion during the quarter.
Of these, 664 million were person-to-person (P2P) transfers, while 55.9 million were person-to-merchant (P2M) transactions, indicating wider adoption of digital payments by both individuals and businesses.
The report further revealed that banking services were delivered through a nationwide network of 20,232 bank branches and 819,000 branchless banking agents.
Conventional bank branches processed 128 million transactions with a total value of Rs99.5 trillion during the reporting period.
The State Bank said the continued rise in digital payment adoption demonstrates that Pakistan's payment ecosystem is becoming faster, more efficient, and increasingly technology-driven.