According to the State Bank of Pakistan’s (SBP) Annual Payment Systems Review, the size of the digital payments ecosystem witnessed massive increase over the previous fiscal year. The report reveals that internet banking expanded by 51.7 per cent to 141.7 million users in FY22, while mobile phone banking increased by 100.4 per cent to 387.5 million.

There were 15 million P2P (Person-to-Person) Raast users registered, who carried out 7.9 million transactions worth Rs102.1 billion.

The report also notes that during FY22, there were 8.4 million and 12.3 million users of mobile phones and internet banking, respectively.


In terms of transactions, mobile phone banking increased by 100.4 per cent to 387.5m, while internet banking grew by 51.7 per cent to 141.7m during the year.

In 2021–2022, internet banking transactions had a value of Rs10.2 trillion, increasing 81.1 per cent. The volume of e-commerce transactions increased by 107.4 per cent to 45.5 million, and the value increased by 74.9 per cent to Rs106 billion.

A total of 32,958 point-of-sale devices were installed during FY22, which caused the network to grow by 45.8 per cent to 104,865. The number of online retailers registered with the banks increased over this time from 3,003 to 4,887. The nation’s ATM network expanded by 4.8 per cent during the course of the year, totaling 17,133 machines.