Digital Transactions Reach 84% of Overall Retail Payments

Digital Transactions Reach 84% of Overall Retail Payments: SBP

The State Bank of Pakistan (SBP) has released its annual report for Fiscal Year 2023-24, showcasing significant advancements in the country’s national payment ecosystem, with a notable shift towards digital payments. According to the report, retail payments saw extraordinary growth during FY24, with the volume of transactions rising from 4.7 billion to 6.4 billion, representing…

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Total Retail Payments Now Comprise 83% Digital Transactions:

Total Retail Payments Now Comprise 83% Digital Transactions: SBP Report

Islamabad, July 2024 — Digital transactions accounted for 83% of total retail payments in Pakistan during the third quarter (January-March) of the fiscal year 2023-24, according to the State Bank of Pakistan‘s (SBP) Quarterly Payment Systems Report. The remaining 17% of transactions were conducted over-the-counter (OTC) at bank branches. Banks and Electronic Money Institutions (EMIs)…

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