Retail payments surge to Rs 154 trillion as digital transactions dominate in Q2 FY25

The State Bank of Pakistan (SBP) has released its Payment Systems Quarterly Review for Q2 FY25, revealing a significant rise in retail payments. Transactions grew by 11% in volume and 12% in value, reaching Rs154 trillion, driven by increased adoption of digital payment channels.

Digital payments accounted for 88% of all retail transactions by volume, highlighting Pakistan's shift towards a cashless economy. Mobile banking apps led the charge, processing 1.45 billion transactions worth Rs24 trillion, while internet banking portals saw a 7% increase in users, facilitating Rs9.7 trillion in transactions.

The report also noted growth in Raast instant payments, with P2P transactions soaring to 294 million (+50%) and merchant payments gaining traction. E-commerce transactions surged by 30%, reflecting changing consumer preferences.

For more details, read the full report here.