SBP Highlights Surge in Online Transactions
SBP has released its Annual Report on Payment Systems 2024–25, highlighting the rapid progress of the country toward a digitally driven payment landscape.
The report outlines how the payment ecosystem in Pakistan expanded remarkably during the fiscal year, supported by strong regulatory initiatives, upgraded infrastructure, and widespread adoption of digital banking platforms.
Retail payments climbed to 9.1 billion transactions worth Rs612 trillion, marking a 38 percent surge in volume and a 12 percent increase in value year-on-year.
Digital payment channels dominated overall activity, accounting for 88 percent of retail transactions, compared to 78 percent in FY23 and 85 percent in FY24.
Mobile banking apps led this transformation with 6.2 billion transactions, showing 52 percent growth, while internet banking handled 297 million, up 33 percent annually.
E-money wallets, despite their smaller share, witnessed the fastest growth, doubling both in transaction count and value, reflecting stronger consumer confidence in fintech platforms.
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The SBP report credited Raast, instant payment system, for accelerating digital adoption, as its transaction value and volume more than doubled during the year.
The Person-to-Merchant of Raast feature emerged as a crucial step toward expanding financial inclusion, encouraging transparent transactions, and promoting cashless commerce across the country.
Infrastructure development also gained momentum, with the point-of-sale network expanding to 196,000 terminals at 159,000 merchant sites, enabling nearly one million daily card payments.
The ATM network recorded a 7 percent expansion, reaching 20,000 machines nationwide, each facilitating around 140 cash transactions every single day.
The central bank also upgraded its Real-Time Gross Settlement system to PRISM+, enhancing operational transparency, efficiency, and security across both large-value and retail payment transactions.
