Pakistan has recorded a strong rise in digital payments, showing rapid progress toward a cash lite economy. According to the State Bank of Pakistan, the country processed 2.8 billion online retail transactions between July and September, with a total value of Rs. 166 trillion. This marks a 10 percent increase in transaction volume and a 6 percent rise in value compared to the previous quarter.
The growth was largely driven by the expanding use of mobile banking apps and digital payment platforms. As more people and businesses shift to online channels, digital payments now account for nearly 90 percent of all retail transactions in the country. Mobile banking remained the most widely used channel, reflecting rising smartphone use and improved internet access.
Fund transfers made up the largest share of both transaction volume and value. This trend highlights how individuals and businesses are increasingly relying on digital methods for everyday payments, salary transfers, bill payments, and business transactions.
Experts believe this surge reflects growing public trust in digital banking systems and continued efforts by regulators and financial institutions to promote secure and user friendly platforms. Initiatives such as instant payment systems, branchless banking, and digital wallets have also played a key role in accelerating adoption.
The State Bank noted that the steady rise in online transactions is a positive sign for financial inclusion and economic transparency. With more users entering the formal financial system, digital payments are helping reduce reliance on cash and improve transaction tracking.
As Pakistan continues to invest in digital infrastructure, analysts expect online transactions to grow further in the coming months, strengthening the country’s evolving digital economy.
