IslamabadPakistan digital payment channels have processed 88 % of all of all retail transactions by size, as mobile banking applications play a pivotal role. According to the State Bank in Pakistan (SBP), these platforms, including mobile banking applications, the banking services portfolios (BB), and electronic money portfolios, were combined 1.45 billion transactions, with a rupee value. 24 trillion. This represents 12 % growth in the volume of transactions and an increase of 28 % in the value of the transaction. The trend continues to reinforce, with more growth in Q2-FY25.
Growth in digital payment channels
The number of users who embrace digital banking services has grown steadily. Mobile bank users have increased by 7 %, reaching 21 million. E-Money and BB Wallet users grew by 13 % and 7 %, respectively, reaching 4.7 million and 64.3 million. In addition, online banking services witnessed a 7 % increase in users, reaching 13.3 million. Traders’ payments through digital platforms also grew in this quarter, as e -commerce transactions increased by 30 % in their size to 152 million, which total rupees. 193 billion (32 % increase).
E -commerce and digital payments inside the store
Among e -commerce transactions, 8 % (12.8 million) were made through cards, while 92 % (139.5 million) were treated through governor/digital accounts. In terms of the value of the transaction, the share was 33 % for cards and 67 % for digital wallets. The number of merchants supporting points of sale is 115,177, with 151,646 points of sale, which facilitates 89 million purchases inside the store with a rupee value. 510 billion (19 % increase). Retail and trafficking retailers who accept QR symbols or BB portfolios that have been processed 22.1 million transactions, at the RS value. 58 billion, which reflects the growth of 4 % and 9 %, respectively.
The role of SBP in accelerating digital payments
SBP payment systems, such as RAST, played and RTGS (real -time settlement system), played a decisive role in promoting digital payments throughout Pakistan. RAST processing 296 million transactions, with a RS value. 6.4 trillion, during the Q2-FY25, up to its total transactions since its launch to 1.144 billion, with a rupee value. 26 trillion. Meanwhile, the RTGS system settled the large -value transactions that reached the total rupees. 330 trillion, marking 19 % in value.
Growth of total retail transactions
Retailing transactions increased by 11 % in size, reaching 2.14 billion, while their total value increased by 12 %, reaching a rupe. 154 trillion. This growth was largely attributed to Internet banking transactions, online banking services, and non-prescription banking transactions (OTC), according to the review of the SBP quarterly payment systems for Q2-FY25.
A step towards digital economy
The shift in the digital economy in Pakistan is driven by SBP strategic initiatives, as well as the cooperative efforts of banks, technical technology companies and payment services providers. With the continued growth of digital payments, SBP is committed to enhancing financial inclusion and improving the efficiency of individuals and companies alike.
