Pakistan’s formal banking and payment channels processed 3.7 billion retail transactions worth Rs168.8 trillion in Q3 FY26, according to the State Bank of Pakistan’s Quarterly Payment Systems Review for January to March 2026.

Digital channels accounted for 92 percent of all transactions, with 3.4 billion payments worth Rs68 trillion processed through mobile banking apps, internet banking portals, USSD, ATMs, point-of-sale terminals, e-commerce platforms, and call centre IVR banking. Total retail transaction volume grew 9 percent from the previous quarter.

Mobile app-based payments led the digital segment, with 2.9 billion transactions worth Rs42 trillion, 78 percent of all digital payments. These were conducted through apps offered by branchless banking providers, banks, and electronic money institutions, covering person-to-person transfers, bill payments, and merchant payments across online and physical retail channels. Internet banking also grew, with transaction volume and value rising 5 percent and 19 percent respectively.

The Raast Instant Payment System processed 742.1 million transactions worth Rs23.3 trillion during the quarter. Person-to-person transfers on Raast reached 664 million up 10 percent valued at Rs18.9 trillion. Person-to-merchant transactions rose to 55.9 million from 36.3 million in the previous quarter.

Over-the-counter services were provided through 20,232 bank branches and 819,397 banking agents. Bank branches handled 128 million transactions worth Rs99.5 trillion, while agents facilitated 155 million transactions worth Rs1.1 trillion, covering cash deposits, withdrawals, fund transfers, and bill payments.