Pakistan just crossed a milestone. Most businesses haven’t noticed yet.

At the fourth Pakistan Fintech Forum in Karachi on September 2, 2026, State Bank of Pakistan Deputy Governor Muhammad Ali Khan confirmed a major shift. Digital payments in Pakistan 2026 make up 92% of all retail transactions. He spoke as chief guest at the forum, hosted by the Pakistan Fintech Network under the theme “Building the Financial Future: Scale, Trust & Inclusion.” According to Khan, the State Bank’s focus has moved past simple access. Instead, it now leans toward trust, stronger regulation, and real economic impact.

This figure comes from the State Bank’s Quarterly Payment Systems Review for January to March 2026. Out of 3.7 billion retail payments worth Rs 168.8 trillion, 92% ran through digital channels. Retail volume also grew 9% over the previous quarter. In short, the shift shows no sign of slowing. These SBP digital payments statistics highlight just how quickly customer payment behaviour is changing. 

For Pakistani merchants, though, this raises a bigger question. Is your payment setup keeping pace with how customers now prefer to pay?

What the Latest SBP Numbers Actually Show

During the same quarter, digital channels processed Rs 68.3 trillion, up from Rs 64.4 trillion before. This growth spans several channels, including mobile banking apps, internet banking, USSD, ATMs, POS terminals, eCommerce, and call-centre banking.

Mobile apps and wallets led the pack. In fact, they processed 2.89 billion transactions worth Rs 41.67 trillion in just three months. By March 2026, branchless banking app users reached 95.8 million. Meanwhile, banking-app users stood at 28.9 million, and EMI wallet users hit 7.3 million. But the latest SBP digital payments statistics make one thing clear, such as the real work is building an ecosystem that scales responsibly and reaches everyone, not just customers who are already comfortable paying digitally. 

For merchants, this matters a great deal. Customers now handle routine money tasks from their phones. As a result, the checkout counter can no longer sit apart from this bigger shift in behaviour.

Raast Is Driving the Merchant Side Too

The 92% figure only tells part of the story. Raast, Pakistan’s instant payment system, processed 742.1 million transactions worth Rs 23.3 trillion in the same quarter. Most came from P2P transfers, at 664 million transactions. However, the more telling detail sits in P2M payments. That number jumped to 55.9 million from 36.3 million the quarter before.

These Raast transactions Pakistan figures show that instant payments are moving beyond P2P transfers and into everyday commerce. Pakistani consumers aren’t just sending money to friends and family digitally; they’re also paying shops and service providers the same way. Because of this, a growing share of the economy now runs through digital payment channels, not cash drawers.

The growth in Raast transactions in Pakistan also gives merchants another reason to rethink how customers pay at checkout.

The Conversation Is Shifting From Adoption to Trust

At PFF IV, the tone moved past celebrating adoption numbers. Instead, speakers asked harder questions. For example, Pakistan Fintech Network Chairman Syed Nadeem Hussain told attendees the sector has outgrown the “increase adoption” phase. Now, the real work is building an ecosystem that scales responsibly and reaches everyone, not just early adopters in big cities.

Deputy Governor Khan echoed that point. According to him, the State Bank wants regulation, accountability, and access to work together. He also called on banks and fintech firms to expand digital credit quickly, using payment data merchants already generate.

The discussion at Pakistan Fintech Forum 2026 reflects this broader shift. The industry conversation is no longer only about getting customers to adopt digital payments; it is increasingly about building trust, infrastructure, and business value around them. 

What This Means for Your Business?

Here’s the uncomfortable question hiding in these numbers: if 92% of transactions already move digitally, does your checkout actually reflect that?

Many small businesses assume they’re “doing digital” because they accept a bank transfer here or a wallet payment there. But a scattered mix of methods isn’t the same as a real system. In fact, it leads to missed sales when a customer’s preferred method isn’t offered, and it leaves no unified record to draw on later. Soon, it could even mean missing out on credit options built for digitally active merchants.

For merchants looking at digital payments in Pakistan 2026, the opportunity is not simply about accepting more payment methods. It is about creating a checkout experience that matches current customer behaviour while keeping transaction records organized. 

The Real Problem Isn’t Accepting Payments. It’s Managing Them Well.

A merchant might accept transfers, cards, wallets, and QR codes. Yet if each method creates a separate trail, reconciliation and visibility still suffer. Without one unified system, checking which orders are actually paid becomes a manual chore. A modern gateway solves this by pulling every payment flow into a single view. So the real question shifts from “Can I accept digital payments?” to:

• Can customers pick a payment method that suits them?
• Does the business spot failed transactions quickly?
• Are payments matched against orders automatically?
• Can settlements be tracked without juggling multiple systems?

These questions only grow more important as transaction volumes rise.

Where AssanPay Fits: A Payment Gateway Built for This Market

This is exactly the gap AssanPay was built to close. As a B2B payment gateway for Pakistani merchants, AssanPay lets shop owners accept instant QR payments, generate saved QR codes for fixed-price items, and share pay options over WhatsApp. In addition, every transaction gets logged with a receipt, giving merchants clean, organized history that digital credit models are starting to reward. Online businesses can also integrate AssanPay with WordPress, WooCommerce, Shopify, and custom platforms through its APIs.

With digital payments in Pakistan 2026 becoming the norm rather than the exception, businesses need payment infrastructure that can keep up with multiple customer preferences. AssanPay gives merchants a way to bring these payment flows into one structured setup.

Pakistan’s payment landscape isn’t waiting for businesses to catch up. Customers have already made the switch. The 92% figure isn’t a forecast; it’s where things stand right now. So, the only real decision left is whether your checkout reflects that reality.

If your business hasn’t modernized its payment setup yet, now is the moment. Explore how AssanPay can help you accept payments the way 92% of Pakistan already expects to pay.

Frequently Asked Questions

01: What percentage of payments in Pakistan are now digital?

Based on the State Bank’s Quarterly Payment Systems Review for January to March 2026, 92% of retail payments now run through digital channels like mobile banking apps, internet banking, POS terminals, eCommerce, and ATMs. These SBP digital payments statistics show how quickly digital transaction volumes have grown. 

• Total retail payments that quarter: 3.7 billion transactions worth Rs 168.8 trillion
• Retail transaction volume rose 9% from the previous quarter

02: What is the Pakistan Fintech Forum?

The Pakistan Fintech Forum 2026 is an annual event hosted by the Pakistan Fintech Network, bringing regulators, banks, and fintech leaders together to discuss the sector’s direction.

• The fourth edition (PFF IV) took place in Karachi on September 2, 2026
• Its theme was “Building the Financial Future: Scale, Trust & Inclusion”
• SBP Deputy Governor Muhammad Ali Khan spoke as chief guest

03: How many transactions does Raast process?

Raast, Pakistan’s instant payment system, processed 742.1 million transactions worth Rs 23.3 trillion in the January to March 2026 quarter alone. The latest Raast transactions Pakistan data shows that the system is becoming increasingly relevant to everyday commerce. 

• 664 million were person-to-person transfers
• 55.9 million were person-to-merchant payments, up from 36.3 million the previous quarter

04: Why is digital credit the next focus for Pakistani fintech?

Regulators and industry leaders at PFF IV pointed to digital credit as the sector’s next big opportunity. The goal, essentially, is to let small businesses use payment data to qualify for credit.

• Traditional lending has long excluded many small merchants
• Payment history can replace missing paperwork
• Merchants with organized digital records will likely access credit faster as these programs expand

05: How can my business prepare for this shift?

Preparing simply means moving from scattered payment methods to one structured digital payment gateway that tracks every transaction cleanly.

• Accept QR, saved QR, and pay-link payments through a single platform
• Keep a documented transaction history for future credit applications
• Choose a gateway built for Pakistani merchants, like AssanPay

06: How does AssanPay support payment reconciliation?

AssanPay provides transaction records and reporting through its dashboard, helping businesses track collections, review payment activity, and match transactions against orders or internal records. 

07: How does Raast fit into a business payment strategy?

Raast is becoming an increasingly important part of Pakistan’s retail payment ecosystem. AssanPay supports Raast QR, giving businesses another option for accepting digital payments while serving customers who prefer bank-based instant payments.