Digital payments target merchant growth

The Express Tribune reported that 3.7 billion retail transactions took place in January to March 2026, according to the State Bank's Payment Systems Quarterly Review. Of these, about 3.4 billion, or roughly 92%, were carried out through digital channels, with a combined value of Rs68.3 trillion. Banking and payment officials say the market is now shifting from simply offering access toward encouraging regular use of instant payments.

Mashreq Pakistan has launched Raast person-to-merchant payments, letting merchants take instant QR code payments, with customers paying from digital banking platforms. Its chief executive, Muhammad Hamayun Sajjad, argued that the sector now needs to move its focus from access to adoption. Raast handled about 742 million transactions in the quarter, valued at Rs23.27 trillion, and 664 million of those were person-to-person payments.

iPath CEO Abdus Samad Khan said progress was being driven largely by regulatory encouragement rather than organic demand, and that Raast P2P and P2M payments must remain free for consumers. He also pointed to limited consumer awareness and merchants steering customers toward cash or wallets such as easypaisa and JazzCash. The State Bank counted over 2.6 million merchants enrolled for Raast P2M by March 2026, while the government allocated Rs3.5 billion for QR transactions from September 2025 to June 2026.