Pakistan’s digital payment sector experienced significant growth in FY24, with the number of transactions jumping from 4.7 billion to 6.4 billion, and the value of these transactions increasing from Rs403 trillion to Rs547 trillion, reflecting a 35% rise in both volume and value.
The proportion of digital payments by volume grew from 76% to 84%, driven by a surge in mobile banking users (up 16%), internet banking users (up 25%), and an impressive 85% increase in e-wallet usage.
E-commerce has also evolved, with 87% of payments now being made through bank accounts or digital wallets, showcasing a shift towards more secure and convenient digital methods.
The expansion of Pakistan’s point-of-sale (POS) network, along with a strong and reliable infrastructure, has solidified the country’s position as a leader in digital financial services in the region.
This robust growth reflects the increasing adoption of digital banking platforms by both businesses and consumers, making Pakistan a key player in the transformation of the region’s financial landscape. As digital transactions continue to grow, Pakistan is on track to further boost its role in the global digital economy.
