State Bank of Pakistan launches survey on digital payment user experience

KARACHI: The State Bank of Pakistan has launched a nationwide survey seeking direct feedback from users of digital payment services, as the central bank works to refine a payments ecosystem that now accounts for the vast majority of retail transactions in the country.

The survey, titled “User Experience of Digital Payment Services,” is open to all users of mobile banking apps, digital wallets, cards, Raast and interbank fund transfers across Pakistan. It will remain open through July 10, 2026, and can be accessed at the SBP’s official survey link.

The central bank said it aims to gather insights on usage patterns, service quality, ease of use, transaction reliability, complaint handling, fraud concerns and overall customer satisfaction.

The survey was developed in consultation with relevant stakeholders and is part of SBP’s broader evidence-based approach to strengthening Pakistan’s digital financial infrastructure.

The initiative comes as digital payments have seen rapid and sustained growth. Digital channels accounted for 92% of all retail transactions in the October-to-December 2025 quarter, up from 88% during the same period a year earlier, with 3.4 billion retail transactions valued at Rs167 trillion.

Mobile app-based payments dominated the digital landscape during that period, with 2.6 billion transactions conducted through apps offered by branchless banking players, banks and electronic money institutions accounting for 62% of all digital payments and amounting to Rs40 trillion in value.

Raast, Pakistan’s instant payment platform, recorded more than a twofold increase in both transaction count and value over the past fiscal year, establishing itself as a cornerstone of the digital ecosystem.

Despite the growth, challenges persist. Cash remains the dominant medium for daily transactions, particularly among small traders and informal workers, who cite high transaction fees, unreliable networks and lack of digital literacy as deterrents. The SBP has acknowledged that “behavioural and trust barriers” continue to impede broader adoption.

SBP said the survey findings will help identify areas for further improvement in the safety, convenience, accessibility and reliability of digital payment services, with the goal of building a more customer-centric and digitally empowered financial ecosystem.

The bank encouraged all digital payment users to participate and share feedback.