Digital payments surge in Pakistan, reaching PKR 64 trillion in 2025's fourth quarter

Digital payment transactions in Pakistan reached 3.1 billion during the October-December quarter, amounting to PKR 64 trillion, according to a report released by the State Bank of Pakistan.

The central bank’s quarterly report on payment systems said digital channels accounted for 92% of 3.4 billion total retail transactions, up from 88% in the same period last year, underscoring accelerating adoption of electronic payments across the country.

Overall retail transaction volumes rose 8% from the previous quarter, while their total value increased 7% to reach PKR 167 trillion.

Mobile app-based payments dominated the digital ecosystem, with 2.6 billion transactions — about 83% of all digital payments — amounting to PKR 40 trillion. These transactions were conducted through platforms offered by banks, branchless banking providers and electronic money institutions, supporting services such as person-to-person transfers, bill payments and merchant purchases.

Internet banking also showed steady growth, with transaction volumes increasing 11% and values rising 22% compared with the previous quarter.

Pakistan’s instant payment platform, Raast Instant Payment System, maintained strong momentum, processing 645.7 million transactions worth PKR 18.5 trillion during the quarter. Person-to-person transfers accounted for 603 million transactions valued at PKR 15.7 trillion, while person-to-merchant payments reached 33.6 million transactions totaling PKR 167.6 billion.

Additionally, more than nine million bulk transactions worth PKR 2.6 trillion were processed by government entities and corporations.

The report said the number of payment cards in circulation rose to 66.7 million, with debit cards making up 87% and credit cards 5%. Card-based transactions at point-of-sale terminals and through e-commerce platforms averaged about 1.7 million transactions per day.

Automated teller machines also remained widely used, with 20,976 ATMs handling 277 million transactions totaling PKR 4.9 trillion.

Traditional banking channels continued to play a significant role. Around 20,143 bank branches processed 138 million transactions valued at PKR 102 trillion, while 763,262 banking agents facilitated 135 million transactions worth PKR 0.9 trillion through over-the-counter services.

The central bank said the data reflects Pakistan’s ongoing shift toward a more inclusive and digitally driven payments system.