Pakistan Cards and Payments – Opportunities and Risks to 2025

GlobalData’s ‘Pakistan Cards and Payments – Opportunities and Risks to 2025' 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, cheques, cards, and direct debits during the review-period (2017-21e).

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 (2021e-25f). 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.

This 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, cheques, cards, and direct debits. It also, includes an overview of the country's key alternative payment instruments.

– Ecommerce 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 central bank is taking steps to push electronic payments. Effective from April 1, 2020, the State Bank of Pakistan (SBP) – the country’s central bank – capped the merchant discount rate at between 1.5% and 2.5% for payments at POS terminals in the country. The SBP also announced payments for tax, court penalties, utility bills, fuel purchases, and education-related services would be exempt from the merchant discount rate. Meanwhile, the interchange reimbursement fee was capped at 0.5% on debit and prepaid cards. These moves will further drive POS adoption among merchants and boost payment card market growth.

– To offer secure card payments and to boost confidence among card holders, in February 2021 the SBP passed a new law mandating all banks to issue new payment cards based on the EMV standard by June 30, 2021. In addition, the central bank allowed commercial banks to offer PIN-free transactions up to a limit of PKR3,000 ($18.67) to push card usage even for lower-value payments. Previously, the SBP directed banks to implement the 3-D Secure protocol for secure online transactions in 2019.

– In January 2021, the SBP announced the launch of its instant payment system Raast. The system allows near-real-time payments between merchants, individuals, businesses, fintechs, and government entities via the internet, mobile phones, and banking agents. The system will be launched in three phases, with the full rollout expected to complete in 2022. Initially the system will support payment of dividends, salaries, and pensions, as well as other payments to government departments. In the next phase, the system will be offered to SMEs and merchants (allowing them to make instant payments to their suppliers and for other payment obligations) and to individuals (allowing them to make instant fund transfers using the recipient’s mobile phone number instead of their bank account number).

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


Allied Bank

MCB Bank


Bank Alfalah

Askari Bank

Faysal Bank

Standard Chartered



China UnionPay


Table of Contents

Table of Contents

Market Overview

Payment Instruments

Card-based Payments

Ecommerce Payments

Alternative Payments

Payment Innovations

Payment Infrastructure & Regulation



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