Digital payments in Pakistan are growing fast. In the third quarter of fiscal year 2024-25, transactions rose by 12%. The total number reached 2.408 billion. Meanwhile, the overall value of these transactions also increased by 8%, reaching Rs164 trillion. The State Bank of Pakistan (SBP) shared these numbers in its latest report on payment systems.
Mobile banking is leading this growth. People used mobile apps and e-wallets for 1.686 billion transactions worth Rs27 trillion. This marks a 16% increase in volume and 22% in value. Clearly, more people trust and use mobile platforms now. Their ease of use and fast service make them a top choice.
User numbers also grew across all digital banking channels. Mobile app users reached 22.6 million, up by 7%. E-money wallet users hit 5.3 million, while branchless wallet users rose to 68.5 million. Internet banking users reached 14.1 million. These increases show that digital banking is becoming part of daily life for many Pakistanis.
E-commerce also saw strong growth. Online payments jumped 40% in volume and 34% in value. Digital wallets led with a 94% share of e-commerce transactions. Card-based payments made up just 6%. At physical stores, POS machines processed 99 million transactions worth Rs550 billion. That’s 12% higher in volume and 8% higher in value than the previous quarter.
Raast and RTGS systems helped boost digital payments too. Raast processed 371 million transactions worth Rs8.5 trillion this quarter alone. Since launch, Raast has handled 1.5 billion transactions worth Rs34 trillion. Meanwhile, RTGS managed 8.5 million large payments worth Rs347 trillion. The SBP plans to keep improving access to digital payments. Its goal is to support financial inclusion and a modern economy.