Overview
- Retail payments reached 9.1 billion transactions worth Rs612 trillion in FY2024-25, up 38% in volume and 12% in value year-on-year.
- Digital channels accounted for 88% of retail transactions, led by 6.2 billion mobile app payments growing 52%, with internet banking up 33% to 297 million.
- E-money wallets posted the fastest expansion as both transaction volume and value doubled, reflecting rising trust in electronic money institutions.
- Raast activity more than doubled and Person-to-Merchant services launched, while acceptance expanded to 195,849 POS terminals at 159,284 merchants and QR-enabled merchants doubled to about 1.1 million.
- The RTGS platform was upgraded to PRISM+ with ISO 20022 adoption and double-digit value growth, even as the SBP cautioned about urban-centric adoption, cash-heavy ATM use, interoperability gaps, and growing cyber risk.