Karachi:
The Pakistani State Bank (SBP) has published the quarterly revision of payment systems for the second quarter (OCT-Dec) of the financial year 2024-25, which reflects remarkable changes in digital payments.
The report emphasizes that the digital payment landscape in Pakistan is becoming stronger, with increasing transactions during 2qfy25. Retail transactions recorded an increase of 11% in volume, reaching 2,143 million, and their value increased by 12% to Rs 154 trillion.
The increase in value is mainly due to mobile applications payments, internet payments and Over-Counter (OTC) transactions in bank branches.
The report said that digital payment channels now account for 88% of all retail transactions, in volume, reflecting an increasing shift to electronic payments, with mobile -based banking applications playing a decisive role.
These platforms that include mobile bank applications, branches without branches (BB) and electronic money wallets were processed by a total of 1,450 million transactions worth 24 trillion Rs, increasing a 12% increase and 28% increase in value.
The number of users utilizing digital banking services also saw a steady rise. Mobile bank applications increased to 21 million (7%), e -money users and BB wallets increased to 4.7 million (13%) and 64.3 million (7%), respectively, while internet users reached 13.3 million (7%).
In addition, commercial media payments through digital media were also expanded during the second quarter. E -commerce digital transactions increased by 30% in volume to 152 million, up to RS193 billion (32%). By volume, 8% (12.8 million) of e -commerce transactions were made via cards, 92% (139.5 million) through digital wallets/accounts, while this share was worth 33% and 67% respectively.
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