Branchless Banking Users Surpass 95 Million in Pakistan, Says State Bank

ISLAMABAD: The number of branchless banking mobile app users in Pakistan has surpassed 95.8 million, reflecting the country’s continued growth in digital financial services, according to the State Bank of Pakistan (SBP).

In its third-quarter Payment Systems Review for the current fiscal year, the SBP said Pakistan’s digital payments network and the number of users utilizing digital banking services have continued to expand.

According to the report, the country now has 95.8 million branchless banking mobile app users, while the number of banking app users has reached 28.9 million. The number of internet banking users has also risen to 16.2 million.

The central bank further stated that the number of merchants accepting digital payments through QR codes has increased to 2.5 million nationwide.

During the third quarter of the fiscal year, consumers spent approximately Rs470 billion through nearly 435 million online shopping transactions.

The SBP report also revealed that digital payment channels processed around 3.5 billion transactions during the quarter, with the total value of payments reaching Rs68.3 trillion, highlighting the rapid adoption of digital financial services across Pakistan.