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Pakistan has witnessed a dramatic shift toward digital payment methods, with 93% of online purchases now conducted through e-wallets and digital accounts, marking an increase from 87% in the previous fiscal year, according to the State Bank of Pakistan’s Annual Payment Systems Review for FY25.
Digital Payment Revolution Gains Momentum
The review revealed that approximately 684 million e-commerce transactions were executed through digital accounts or wallets during FY25, compared to merely 52 million via traditional debit or credit cards. This substantial gap underscores the growing consumer preference for mobile-first payment solutions.
Overall retail payments experienced significant growth, reaching 9.1 billion transactions valued at PKR 612 trillion, representing year-on-year increases of 38% in volume and 12% in value.
Mobile Banking Leads Digital Transformation
Transactions through digital channels now constitute over 88% of retail payments, a notable surge from 78% in FY23 and 85% in FY24, as consumers increasingly embraced mobile applications, internet banking, and e-money wallets for daily transactions.
Mobile app-based banking channels processed 6.2 billion transactions worth PKR 97.0 trillion, while internet banking handled 0.3 billion transactions valued at PKR 39.2 trillion. Mobile app transactions increased by 52% year-on-year, while internet banking grew by 33%.
QR Code Payments Gain Traction
QR code-based transactions reached over 86 million in volume during FY25, amounting to PKR 234 billion, offering merchants a convenient and cost-effective alternative to traditional point-of-sale systems.
Raast System Fuels Growth
Pakistan’s instant payment platform Raast has established itself as a cornerstone of the digital ecosystem, recording more than twofold increases in both transaction count and value. The system continues advancing digital financial inclusion while reducing dependence on costly infrastructure.
The data confirms Pakistan’s accelerating transition toward a cashless economy, driven by regulatory support, improved digital infrastructure, and rising consumer confidence in electronic payment methods.
