The State Bank of Pakistan (SBP) has released its Annual Payment Systems Review for fiscal year 2025-26, highlighting a significant shift towards digital payments across the country.
According to the report, the volume of retail payments increased by 58% year-on-year during FY2025-26. The total value of retail payments reached Rs673 trillion, reflecting the rapid transformation of Pakistan’s payments landscape and the growing use of digital channels.
The central bank said a total of 14.3 billion retail transactions were processed through formal banking channels during the fiscal year. Of these, 13.2 billion transactions were conducted through digital channels, indicating a growing preference among consumers for digital payment methods over traditional alternatives.
The SBP reported that the volume of digital payments increased by 65% year-on-year during the period.
Mobile phone-based payments recorded particularly strong growth, with the number of transactions exceeding 11.1 billion during FY2025-26. The continued rise in mobile payments indicates that consumers are increasingly relying on mobile technology for their day-to-day financial transactions.
Internet banking portals also recorded substantial activity, with around 0.3 billion transactions conducted through these platforms, further reflecting the growing adoption of digital banking services.
The report also highlighted continued growth in e-commerce payments. Account-based online payments accounted for 96% of e-commerce transactions, indicating a strong preference for direct payments through bank accounts for online purchases.
The SBP noted that the expansion of digital payments has been accompanied by greater availability of online and mobile financial services for consumers. Increased transactions through mobile phones and internet banking have accelerated the digital transformation of the country’s overall payments system.
The annual review highlighted the growth in retail transactions and the increasing use of digital channels during FY2025-26, with mobile and online platforms emerging as increasingly important tools for consumers’ financial activities.
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