Digital transactions hit 13.2b

According to The Express Tribune, the State Bank of Pakistan's Annual Report on Payment Systems shows strong momentum in digital payments during fiscal year 2025-26. Customers, merchants and lenders are moving toward smartphone apps, online banking, e-wallets and QR codes, helped by policy steps, stronger digital infrastructure and industry initiatives. Retail transactions through formal banking channels reached 14.3 billion in the year, worth Rs673 trillion.

Retail payments via formal banking channels grew sharply, with volume up 58% year on year and value up 10%. Of the 14.3 billion transactions, 13.2 billion went through digital channels, a 65% rise, lifting their share of retail payment transactions to 92% from 88% in FY25. Mobile phone solutions accounted for more than 11.1 billion digital transactions, up 79%, while internet banking portals handled 0.3 billion, a 15% increase.

Merchant acceptance also expanded, with the POS network reaching 337,791 terminals across 295,367 merchant locations and handling nearly 1.5 million daily card payments, up from 1 million a year earlier. Online payments through bank accounts made up 96% of e-commerce transactions via banking channels. Branchless banking app users rose to 99.1 million, while bank app users reached 30.4 million.