Karachi, March 19, 2026 – The State Bank of Pakistan has reported a record 3.4 billion retail transactions for the quarter ended December 31, 2025, highlighting continued growth in digital payments and financial inclusion across the country.
According to the SBP’s Quarterly Report on Payment Systems for October–December 2025, both retail (low-value) and high-value transactions processed through formal banking channels showed strong upward trends. The total number of retail transactions increased by 8% compared to the previous quarter, while the total value rose by 7% to PKR 167 trillion.
A significant shift toward digital payments was observed during the quarter, with 92% of retail transactions conducted through digital channels, compared to 88% in the same period last year. Digital transactions reached 3.1 billion, amounting to PKR 64 trillion.
Mobile application-based payments remained the dominant segment, accounting for 2.6 billion transactions worth PKR 40 trillion. These were facilitated through branchless banking platforms, commercial banks, and electronic money institutions, covering services such as person-to-person transfers, bill payments, and merchant transactions. Internet banking also recorded steady growth in both volume and value.
The SBP’s Raast Instant Payment System continued its strong performance, processing 645.7 million transactions valued at PKR 18.5 trillion. Person-to-person transactions formed the bulk of activity, while merchant and bulk payments also showed increasing adoption.
Card-based transactions expanded as well, with 66.7 million payment cards in circulation. ATMs, POS terminals, and e-commerce platforms collectively contributed to millions of daily transactions, supported by over 20,000 bank branches and more than 760,000 banking agents nationwide.
Overall, the data reflects Pakistan’s accelerating shift toward a digitally enabled financial ecosystem, driven by innovation, infrastructure expansion, and growing consumer confidence in electronic payment systems.