Pakistan’s digital payment sector experienced significant growth in the financial year 2024. The number of transactions jumped from 4.7 billion to 6.4 billion, while the total value of these transactions increased from Rs403 trillion to Rs547 trillion, marking a 35% rise in both areas.
The volume of digital payments also expanded, making up 84% of all transactions, up from 76% the previous year. Several factors contributed to this growth, including a 16% rise in mobile banking users, a 25% increase in internet banking usage, and an impressive 85% growth in the use of e-wallets.
E-commerce has also been impacted by this digital shift, with 87% of online payments now made through bank accounts or digital wallets. With the expansion of point-of-sale (POS) networks and strong digital infrastructure, Pakistan is positioning itself as a leader in digital financial services within the region.
The growing reliance on digital platforms reflects a larger movement towards cashless payments, as more people embrace technology for convenience and security. This trend is likely to continue as the country’s digital payment ecosystem develops further.
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