Digital Retail Payments Surge to Rs36 Trillion in Pakistan

The State Bank of Pakistan (SBP) has reported a significant surge in digital retail payments in the country, with the total volume reaching 1,951 million transactions and a value of Rs136 trillion. The digital payments volume has also seen a substantial increase, with 1,699 million transactions and a value of Rs36 trillion. Mobile banking app transactions have reached 1,301 million, with a value of Rs19 trillion, and a user base of 96.5 million. The e-commerce payments volume has grown by 29% and digital wallets now account for 91% of the market share. The number of POS terminals has increased to 132,224, with 83 million transactions and a value of Rs429 billion. The ATM network has also expanded, with 19,170 units and 243 million transactions, valued at Rs3.9 trillion. Branchless banking agents have reached 693,178, with 28 million bill payments and mobile top-ups transactions, and 75 million cash deposit and withdrawal transactions. The number of retail merchants accepting digital payments has grown by 16%.