SBP: 9.1B Digital Payments, Raast Doubles in FY25

KARACHI: The State Bank of Pakistan (SBP) has unveiled its Annual Report on Payment Systems, dissecting FY2024-25’s payment ecosystem, spotlighting explosive growth, regulatory firepower, digital infrastructure surge, and consumer digital leap.

Retail payments detonated to 9.1 billion transactions worth Rs612 trillion—38% volume spike, 12% value surge YoY. Digital channels seized 88% of retail payments, up from 78% in FY23 and 85% in FY24.

Mobile banking apps dominated with 6.2 billion transactions (+52% YoY), internet banking 297 million (+33%). E-money wallets blazed the fastest trail, doubling both volume and value.

Raast, Pakistan’s instant payment juggernaut, more than doubled transactions and value, slashing settlement times, boosting inclusivity, and easing infrastructure strain. POS terminals ballooned to 195,849 across 159,284 merchants, clocking ~1 million daily card payments vs. 0.7 million last year.

E-commerce tilted 93% toward account/wallet channels. ATMs grew 7% to 20,341, averaging 140 transactions daily.

SBP upgraded RTGS to PRISM+, turbocharging efficiency, transparency, and security. RTGS value soared double-digits, fueled by government securities and interbank transfers.

SBP vows to forge secure, efficient, inclusive payment systems, aligning Pakistan’s financial backbone with global innovation while cementing trust and resilience.