Pakistan’s mobile banking ecosystem recorded significant growth over the past year, with the number of mobile banking app users rising by more than 40% to 137 million, as the government accelerates its transition toward a cashless economy through expanded digital payments, QR code adoption and financial inclusion initiatives.
The figures were announced during a high-level review chaired by Prime Minister Shehbaz Sharif, where officials assessed progress on Pakistan’s national digital payments strategy. The government highlighted strong growth across mobile banking, merchant digitization and digital remittances, reinforcing the country’s commitment to building a modern, digitally enabled financial ecosystem.
The latest milestones demonstrate the rapid pace of fintech adoption as Pakistan expands digital financial services for consumers, businesses and government institutions.
Mobile Banking Adoption Accelerates
Pakistan’s mobile banking app users increased from 95 million to 137 million within a year, representing a growth of more than 44%.
The surge reflects increasing consumer confidence in digital financial services, supported by wider smartphone adoption, improved banking applications and expanding digital payment infrastructure.
Mobile banking has become a key gateway to financial inclusion, enabling users to access payments, transfers, bill payments and other financial services directly from their smartphones.
The continued expansion also provides a stronger foundation for digital commerce and fintech innovation.
QR Code Payments Gain Widespread Adoption
The government’s push for QR code-based payments has delivered strong results across the retail sector.
According to the official briefing:
- Active QR-enabled merchants increased by 300% over the past year.
- More than 2 million merchants were accepting QR payments between June 2025 and June 2026.
- Pakistan recorded 11.9 billion digital transactions during the fiscal year ending June 2026.
The rapid growth of merchant acceptance is helping reduce reliance on cash while making digital payments more accessible for businesses of all sizes.
Digital Remittances and Welfare Payments Expand
Officials also reported that 92% of workers’ remittances received during the past year were transferred digitally.
The government has directed authorities to digitize all remittance inflows to improve efficiency, transparency and financial inclusion.
Meanwhile, digital payments under the Benazir Income Support Programme (BISP) have strengthened the delivery of welfare benefits by reducing processing times and improving transparency for beneficiaries.
These initiatives demonstrate how digital payments are increasingly supporting both financial services and public sector modernization.
Pakistan Advances Its Cashless Economy Strategy
The government continues to position digital payments as a key pillar of economic modernization.
Prime Minister Shehbaz Sharif urged banks and financial institutions to play a greater role in accelerating the transition to a cashless economy while calling for stronger awareness campaigns to encourage wider adoption among businesses.
A third-party validation of Pakistan’s cashless economy programme is currently underway, with final recommendations expected in November, which could help shape the next phase of the country’s digital finance strategy.
Why This Matters
Pakistan’s rapid growth in mobile banking users and digital payments demonstrates the increasing maturity of its fintech ecosystem. Expanding digital financial services improves financial inclusion, supports e-commerce and creates a stronger foundation for a more transparent and efficient digital economy.
For Pakistan, reaching 137 million mobile banking users and processing 11.9 billion digital transactions marks a significant milestone in the country’s transition toward a cashless economy. For the South Asian fintech sector, the progress highlights how coordinated investment in mobile banking, QR payments and digital public services can accelerate financial inclusion while driving broader digital transformation.
Editor’s Note
Pakistan’s digital payments landscape is moving beyond early adoption into large-scale ecosystem development. While growth in mobile banking users is significant, the more notable indicator is the expansion of merchant acceptance, with over two million businesses now capable of accepting QR-based payments. Combined with the digitization of remittances and government welfare programmes, this demonstrates a shift toward integrating digital payments into everyday economic activity. Maintaining this momentum will depend on continued investment in payment infrastructure, merchant education, cybersecurity and interoperability to ensure digital finance remains accessible, secure and sustainable as transaction volumes continue to grow.
