Digital payments hit 2.8b transactions in Q1FY26: SBP

The State Bank of Pakistan (SBP) has released its Quarterly Report on Payment Systems, highlighting growth in digital transactions and continued expansion of the country's payment ecosystem during the first quarter of fiscal year 2025-26. According to an official statement issued on Tuesday, total payment volumes increased to 2.8 billion transactions in the quarter, reflecting a 10% rise over the previous quarter. The value of retail payments reached Rs166 trillion, marking a 6% quarterly increase, largely driven by growing use of mobile app-based banking. Digital payment channels accounted for 2.5 billion transactions, representing 90% of total retail payments, compared with 87% in the same quarter last year. The value of transactions conducted through digital channels stood at Rs55 trillion, indicating broader adoption of digital payments across the economy.