State Bank of Pakistan publishes FY25 payment systems review showing retail payments at 9.1 billion transactions and 88% digital share

The State Bank of Pakistan released its Annual Payment Systems Review for fiscal year 2024-25, reporting continued expansion in Pakistan’s payment ecosystem and a further shift toward digital channels. Retail payments reached 9.1 billion transactions worth PKR 612 trillion, up 38% by volume and 12% by value year on year, with digital channels accounting for 88% of all retail transactions. Mobile banking apps processed more than 6.2 billion transactions, growing 52%, while internet banking handled 297 million transactions, up 33%. E-money wallet apps recorded the fastest growth, with transaction volume and value doubling over the year. On infrastructure, Raast more than doubled in both transaction count and value, with industry offerings on Raast Person-to-Merchant services highlighted as a key development. The point-of-sale network expanded to 195,849 terminals across 159,284 merchant locations, supporting nearly one million daily card payments versus 0.7 million in the prior fiscal year; account- and wallet-based channels represented 93% of e-commerce transactions. The ATM network grew by more than 7% to 20,341 machines, and the RTGS system was upgraded to PRISM+, with transaction value recording double-digit gains driven largely by government securities settlements and interbank transfers.