Majority of Digital Payments Now Done Via Mobile Banking Apps in Pakistan: SBP

Mobile app–based payments continued to dominate Pakistan’s digital landscape, with 2.6 billion transactions conducted through apps offered by branchless banking (BB) players, banks, and EMIs, according to the State Bank of Pakistan’s (SBP) recently released Quarterly Payment Systems Review for the second quarter of FY26.

These transactions accounted for 62 percent of all digital payments and amounted to Rs. 40 trillion in value. They supported a wide range of services, including person-to-person transfers, bill payments, and account- and wallet-based merchant payments across online platforms and physical retail outlets.

Digital payments continued to expand, with 3.1 billion transactions amounting to Rs. 64 trillion, reflecting the growing adoption of digital payment methods across the economy.

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Internet banking also recorded steady growth, with transaction volume and value increasing by 11 percent and 22 percent, respectively.

The number of payment cards in circulation rose to 66.7 million, with debit cards accounting for 87 percent of the total and credit cards making up 5 percent.

During the quarter, the Raast Instant Payment System maintained strong momentum, processing 645.7 million transactions valued at Rs. 18.5 trillion. Person-to-person (P2P) transactions rose to 603 million, an increase of 13 percent, with a total value of Rs. 15.7 trillion. Raast person-to-merchant (P2M) transactions increased to 33.6 million, amounting to Rs. 167.6 billion.

The remainder includes social welfare and prepaid cards. Point-of-sale (PoS) terminals and e-commerce transactions using cards continued to expand, collectively processing around 1.7 million card-based transactions per day.

Meanwhile, a nationwide network of 20,976 ATMs facilitated 277 million transactions worth Rs. 4.9 trillion during the period.

In addition, 20,143 bank branches and 763,262 banking agents provided over-the-counter (OTC) services, including cash deposits, withdrawals, fund transfers, and bill payments. Bank branches processed 138 million transactions valued at Rs. 102 trillion, while banking agents facilitated 135 million transactions worth Rs. 0.9 trillion.