The SBP has released its Quarterly Payment Systems Review for the January to March 2026 period. The latest report shows that digital payments continued to grow across Pakistan. Mobile banking apps remained the country’s most popular payment method during the quarter.
According to the SBP, customers completed 2.9 billion transactions through mobile apps offered by banks, branchless banking providers, and Electronic Money Institutions (EMIs). These transactions made up 78 percent of all digital payments during the three-month period.
The total value of mobile app-based transactions reached Rs. 42 trillion. People used these apps for person-to-person transfers, utility bill payments, and purchases made through online stores and retail outlets.
Overall, digital payment channels processed 3.4 billion transactions with a combined value of Rs. 68 trillion. The figures reflect the growing adoption of electronic payment services across the country.
The SBP report also highlighted the continued expansion of retail digital payments. During the quarter, Pakistan processed 3.7 billion retail transactions worth Rs. 168.8 trillion. Around 92 percent of these payments were completed through digital channels.
These payment methods included mobile banking applications, internet banking, USSD services, automated teller machines (ATMs), point-of-sale (POS) terminals, e-commerce platforms, and call center IVR banking.
Retail transaction volume increased by 9 percent compared to the previous quarter. This growth suggests that more consumers and businesses are choosing digital payment options for everyday financial activities.
Internet banking also recorded steady growth during the reporting period. Transaction volume increased by 5 percent, while the total value of internet banking transactions rose by 19 percent from the previous quarter.
The Raast Instant Payment System continued to show strong performance. During the January to March 2026 quarter, Raast processed 742.1 million transactions worth Rs. 23.3 trillion.
Person-to-person (P2P) transfers remained the largest category on the platform. Raast handled 664 million P2P transactions valued at Rs. 18.9 trillion. This represented a 10 percent increase in transaction volume compared to the previous quarter.
Person-to-merchant (P2M) payments also recorded significant growth. The number of merchant transactions increased to 55.9 million during the quarter. In the previous quarter, the system processed 36.3 million P2M transactions.
Despite the rapid rise in digital banking, traditional banking services remained important. Pakistan’s banking network continued providing over-the-counter services through 20,232 bank branches and 819,397 banking agents.
These branches and agents offered cash deposits, cash withdrawals, fund transfers, and bill payment services. During the quarter, bank branches processed 128 million transactions worth Rs. 99.5 trillion. Banking agents handled another 155 million transactions with a total value of Rs. 1.1 trillion.
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The latest SBP review shows that digital payments are becoming a larger part of Pakistan’s financial system. At the same time, physical banking services continue to support millions of customers across the country.
