Pakistan Digital Payment Transactions Reach 11.3 Billion

Pakistan's financial landscape is undergoing a swift shift toward electronic transactions, with digital channels processing 92 percent of all retail payment volume across the nation, according to official review details reported by Business Recorder.

Minister of State for Finance Bilal Azhar Kayani chaired a first-year review meeting for the Cashless Pakistan initiative. Data presented during the session revealed that annual digital transaction volume expanded from 6.9 billion to 11.3 billion over the past 12 months.

Merchant participation has experienced a fourfold increase, rising from 500,000 active digital vendors to more than two million nationwide. At the same time, the broader consumer user base has expanded, with registered digital banking accounts climbing past 137 million.

Looking ahead, authorities have selected 25 high-impact federal and provincial organisations for complete payment digitalisation through Raast, the national instant payment gateway, set for completion by December 2026. Approximately 75 percent of government-to-person transfers are already processed digitally, with remaining disbursements—including pensions and social safety funds—slated for transition.

As transaction volumes continue to accelerate, banking institutions and regulatory authorities face the challenge of scaling up backend technical infrastructure to keep pace with demand and maintain system reliability.