KARACHI: Pakistan’s formal banking system processed 3.7 billion retail transactions totaling PKR 168.8 trillion in Q3 FY26, with digital payments accounting for an overwhelming 92 percent share, the State Bank of Pakistan confirmed in its latest quarterly review.
During the quarter, Pakistan’s formal banking and payment channels processed a staggering 3.7 billion retail transactions worth PKR 168.8 trillion. Remarkably, 92 percent of these payments, amounting to 3.4 billion transactions, were executed through digital channels, including mobile banking apps, internet banking, ATMs, POS terminals, and e-commerce platforms.
#SBP invites all Pakistanis, especially women to participate in the User Experience Survey on Digital Payment Services. Your insights are important for building a more inclusive and user-friendly digital payments ecosystem.
Share your feedback here:https://t.co/R5v83j2unb… pic.twitter.com/rpjIjkKqOm— SBP (@StateBank_Pak) June 24, 2026
The report highlights a significant 9 percent increase in overall retail transactions compared to the previous quarter, demonstrating sustained momentum in digital adoption. Mobile banking applications emerged as the undisputed leader, processing 2.9 billion transactions worth PKR 42 trillion.
These apps, offered by branchless banking providers, commercial banks, and Electronic Money Institutions (EMIs), facilitated everything from person-to-person transfers and utility bill payments to merchant transactions across both online and physical retail outlets.
Internet banking also posted impressive gains, with transaction volumes rising 5 percent and values surging by 19 percent, indicating growing trust in online financial services among Pakistani consumers.
The SBP’s flagship instant payment platform, Raast, continued its stellar performance, processing 742.1 million transactions valued at PKR 23.3 trillion during the quarter. Person-to-Person (P2P) transfers reached 664 million transactions, marking a 10 percent increase with a total value of PKR 18.9 trillion.
Even more notably, Raast P2M (Person-to-Merchant) transactions nearly doubled, jumping from 36.3 million to 55.9 million quarter-over-quarter, reflecting the platform’s expanding role in retail commerce.
#SBP has launched a survey on User Experience of Digital Payment Services to gather user-centric insights for bringing further improvement in this domain.
Share your feedback here: https://t.co/R5v83j1WxD#DigitalPayments #FinancialInclusion #Raast pic.twitter.com/ZUr2E8Qb1f— SBP (@StateBank_Pak) June 19, 2026
Despite the digital surge, conventional banking infrastructure remained robust. A network of 20,232 bank branches processed 128 million over-the-counter transactions valued at PKR 99.5 trillion, while 819,397 banking agents facilitated 155 million transactions worth PKR 1.1 trillion, ensuring financial services remain accessible to all segments of the population.
These impressive figures underscore Pakistan’s accelerating transition toward a more inclusive, efficient, and digitally empowered financial ecosystem. The growing preference for digital payment methods signals increasing consumer confidence in the country’s banking infrastructure and points toward a future where financial services become increasingly accessible to all Pakistanis.
