Pakistan Cards & Payments: Opportunities and Risks to 2023

GlobalData’s 'Pakistan Cards & Payments: Opportunities and Risks to 2023' report provides detailed analysis of market trends in the Pakistani cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, direct debits, and cheques during the review-period (2015-19e).

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2019e-23f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together GlobalData’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

GlobalData’s 'Pakistan Cards & Payments: Opportunities and Risks to 2023' report provides top-level market analysis, information and insights into the Pakistani cards and payments industry, including –

– Current and forecast values for each market in the Pakistani cards and payments industry, including debit and credit cards.

– Detailed insights into payment instruments including cash, direct debits, cards, and cheques. It also, includes an overview of the country's key alternative payment instruments.

– E-commerce market analysis.

– Analysis of various market drivers and regulations governing the Pakistani cards and payments industry.

– Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.


– The State Bank of Pakistan (SBP) has undertaken various initiatives to boost electronic payments. In September 2018 it passed regulation preventing banks from charging transaction fees (including interchange fees and merchant discount rates) on payments made to government bodies using electronic payment methods such as payment cards and digital wallets. In March 2018, the SBP partnered with the Federal Board of Revenue (FBR) to launch an online tax collection system. The system allows taxpayers to pay their FBR taxes via internet banking or at ATMs. And in June 2016, the SBP issued a guideline making it mandatory for all card service providers to implement EMV standards on payment cards by June 30, 2018. The deadline was later extended to December 31, 2019.

– In support of the government’s financial inclusion initiatives, domestic payment scheme PayPak was launched by 1LINK in April 2016. The aim is to provide low-cost payment services for unbanked individuals. Over 30 banks now offer PayPak debit cards. To enable overseas usage and acceptance of PayPak cards, 1LINK partnered with JCB in April 2018, allowing member banks to issue PayPak-JCB co-badged cards. The company also partnered with Allied Bank in August 2018 to launch PayPak-UnionPay International co-badged debit cards.

– To drive Islamic banking in the country, in July 2017 the SBP issued guidelines on the conversion of conventional banks into Islamic banks. It has also conducted various events to increase awareness of Islamic banking. These initiatives help promote banking services among Pakistanis, many of whom favor Islamic banking for religious reasons. The number of Islamic branches stood at 2,913 in June 2019, up from 1,651 in June 2015.

Reasons to buy

– Make strategic business decisions, using top-level historic and forecast market data, related to the Pakistani cards and payments industry and each market within it.

– Understand the key market trends and growth opportunities in the Pakistani cards and payments industry.

– Assess the competitive dynamics in the Pakistani cards and payments industry.

– Gain insights into marketing strategies used for various card types in Pakistan.

– Gain insights into key regulations governing the Pakistani cards and payments industry.

Companies mentioned



MCB Bank

Askari Bank

Allied Bank

Bank Alfalah

Faysal Bank

Standard Charted




American Express

Table of Contents

Table of Contents

Market Overview

Card-based Payments

E-commerce Payments

Alternative Payments

Payment Innovations

Payments Infrastructure & Regulation



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