The State Bank of Pakistan (SBP), in its Annual Review of Payment Systems, revealed that retail payment volumes surged by 38% during fiscal year 2024–25, fueled by the rapid adoption of digital platforms which now account for 88% of all retail transactions in the country.
According to the central bank, the Raast instant payment system witnessed more than a twofold rise in both transaction volume and value, while PRISM+—the upgraded real-time gross settlement system for large-value payments—also recorded double-digit growth.
The SBP attributed this expansion to progressive regulatory measures, improved digital infrastructure, and growing consumer confidence in mobile and internet banking channels.
During FY25, retail payments climbed to 9.1 billion transactions worth Rs 612 trillion, reflecting annual increases of 38% in volume and 12% in value. Digital channels maintained strong momentum, with their share of total retail payments increasing from 78% in FY23 and 85% in FY24 to a record 88% in FY25.
Mobile banking remained the leading growth driver, processing over 6.2 billion transactions—a 52% jump from the previous year. Internet banking portals handled 297 million transactions, up 33%, while e-money wallets, though a smaller segment, recorded the fastest growth as both their transaction volume and value doubled.
Raast continued to strengthen its role as a cornerstone of Pakistan’s digital payment landscape. Its Person-to-Merchant (P2M) feature is promoting financial inclusion, enabling faster settlements, reducing dependence on costly infrastructure, and fostering transparency through digital transaction trails.
The country’s point-of-sale (POS) network also expanded significantly, reaching 195,849 terminals across 159,284 merchant locations—supporting nearly one million daily card payments, up from 0.7 million a year earlier.
E-commerce activity continued to favor account and wallet-based payments, which represented 93% of all online transactions, the SBP noted. Meanwhile, the ATM network grew by over 7% to 20,341 machines, each processing an average of 140 transactions per day.
