KARACHI: The volume of retail digital transactions increased from around 6.9 billion to nearly 12bn in FY26, while the number of active merchants expanded from approximately half a million to over 2m, said State Bank of Pakistan Governor Jameel Ahmad on Wednesday.

Speaking at the launch ceremony of the HBL, UnionPay International and PayPak co-badged debit card, the SBP governor said the partnership is an important milestone in Pakistan’s journey toward a modern, resilient and inclusive digital payments ecosystem.

He said the mobile banking app users hit 137m, while the share of home remittances credited through digital channels rose from around 80pc to 92pc. He said these trends reflect growing public confidence in digital financial services and increasing momentum towards a more inclusive and cash-lite economy.

Published in Dawn, July 16th, 2026