Pakistan sees retail payment boom with 9.1bn transactions in FY25

November 03, 2025 (MLN): Retail payments in Pakistan registered robust growth, reaching 9.1 bn transactions worth Rs 612 trillion during FY2024-25, marking a 38 % increase in volume and 12 % in value year-on-year, according to the State Bank of Pakistan’s annual report on payment systems. 

Digital channels accounted for 88 % of all retail transactions, up from 85 % in FY24, reflecting the strong consumer shift towards mobile and internet-based platforms.

The State Bank of Pakistan (SBP) released its Annual Report on Payment Systems, presenting a comprehensive analysis of the current payment ecosystem, key evolving trends shaping the payment landscape, and notable developments achieved across the sector during the Fiscal Year 2024-25, according to a press release by SBP’s External Communications Department.

Mobile banking apps led the growth with over 6.2 bn transactions, showing a 52 % rise, while internet banking portals processed 297 m transactions, up 33 % from the previous year.

E-money wallet apps, though having a smaller share, recorded the fastest growth, with both transaction volume and value doubling during the year indicating growing trust in electronic money institutions as key drivers of financial inclusion.

This transformation was supported by a strengthened payment infrastructure. Raast, Pakistan’s instant payment platform, recorded more than a twofold increase in both transaction count and value, establishing itself as a cornerstone of the digital ecosystem. 

The launch of Raast Person-to-Merchant (P2M) services marked the beginning of a transformative phase aimed at enhancing digital inclusivity, reducing reliance on costly infrastructure, and fostering a transparent digital trail for greater access to formal financial services.

The point-of-sale network expanded to 195,849 terminals across 159,284 merchant locations, enabling nearly one m daily card payments compared to 0.7 m last fiscal year.

E-commerce payments continued to favor account and wallet-based channels, representing 93 % of online transactions. 

The ATM network also expanded by more than 7 % to 20,341 machines, each handling an average of 140 transactions daily.

During the period, the RTGS system was upgraded to PRISM+ to enhance efficiency, transparency, and security for both retail and large-value payments.

The system registered double-digit growth in transaction value, largely driven by government securities settlements and interbank transfers.

The SBP reaffirmed its commitment to fostering secure, efficient, and inclusive payment systems, ensuring that Pakistan’s financial infrastructure continues to evolve in line with global innovations while maintaining public trust and resilience.

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