Pakistan Digital Payments Q3 FY26: SBP Latest Report
Overview of SBP Q3 FY26 Report
The State Bank of Pakistan (SBP) has released its Quarterly Payment Systems Review for **Q3 FY26** (covering January to March 2026). The data confirms a sharp acceleration in the adoption of digital financial channels across the country. According to the report, a total of 3.7 billion retail payments worth PKR 168.8 trillion were processed through formal banking and payment loops. Digitally initiated checkouts accounted for a massive 92% share of this retail volume.
This digitization goes beyond simple wallet-to-wallet transfers. It encompasses mobile apps, internet portals, USSD channels, cash withdrawals at ATMs, online e-commerce transactions, point-of-sale (POS) terminal card swipes, and modern phone tap payments. To review general contactless frameworks in Pakistan, visit our NFC Payment Pakistan homepage.
Key Digital Payment Metrics (Q3 FY26)
The following table summarizes the digital transaction volumes and values recorded by the State Bank of Pakistan during the quarter:
| Performance Parameter | Recorded Value (Q3 FY26) | Description / Coverage |
|---|---|---|
| Total Retail Payments | 3.7 Billion | Total transaction volume across all formal channels. |
| Retail Payment Value | PKR 168.8 Trillion | Total monetary value processed through the financial loop. |
| Share of Digital Channels | 92% | Percentage of transactions initiated via digital channels. |
| Digital Transaction Volume | 3.4 Billion | Total volume handled by digital banking channels. |
| Digital Transaction Value | PKR 68 Trillion | Total financial value of digital transactions. |
| Mobile App Payments | 2.9 Billion | Transactions initiated via mobile banking apps & wallets. |
| Mobile App Payment Value | PKR 42 Trillion | Total financial value processed via mobile apps. |
| Raast Transactions | 742.1 Million | Total transactions processed by SBP’s instant engine. |
| Raast Transaction Value | PKR 23.3 Trillion | Total monetary value sent via Raast channels. |
Mobile Banking Apps Drive Growth
Mobile banking apps and digital wallets continue to be the primary drivers of digital transaction volume. SBP reported 2.9 billion transactions initiated through banking apps, EMIs, and branchless players. This segment represents approximately 78% of the digital payment share, demonstrating that consumers are increasingly comfortable managing everyday payments through their phones.
This smartphone-centric behavior supports the deployment of tokenized payment apps. As more consumers adopt mobile banking, using Google Wallet for POS checkouts becomes a natural next step. To check if your card works, read our Google Wallet Supported Banks Pakistan List.
Raast Instant Payments Expand
Raast, Pakistan’s instant payment gateway, recorded substantial gains in Q3 FY26, handling 742.1 million transactions. The system is split into two primary consumer loops:
Raast P2M vs. NFC Tap-to-Pay vs. QR Codes
Pakistan’s digital payment ecosystem is diversifying. Rather than relying on a single method, consumers use different channels depending on the checkout context. For a detailed breakdown of technologies, check our guide on SadaPay & NayaPay Google Wallet NFC Support.
| Feature Channel | Raast P2M Payments | NFC Tap-to-Pay (Google Wallet) | QR Code Scans |
|---|---|---|---|
| Best Used For | Instant account transfers to merchants | Retail POS checkouts at registers | Small merchant checkouts without POS |
| Hardware Required | Camera phone (app scanner) | Android phone with NFC chip | Smartphone with camera |
| Terminal Cost | Zero (Static paper print QR) | Merchant POS card machine needed | Zero (Static QR standee) |
| Internet at POS | Active connection required on phone | No phone internet required at POS | Active connection required to scan |
To learn how to activate NFC tap checkouts on your phone, see our Google Wallet Pakistan Setup Guide. If you need a compatible budget phone, read our directory of budget NFC enabled phones in Pakistan.
Report Limitations: The Cash Economy
It is important to emphasize that SBP’s payment systems review focuses exclusively on transactions conducted through formal banking and regulated payment service providers. It does not track cash transactions occurring outside the formal financial system. While the 92% digital payment share is a significant achievement for formal retail payments, cash remains widely used in informal sectors across Pakistan.