QR Payment Merchants in Pakistan Surge 245% to 3.8 Million in FY26

ISLAMABAD: The number of QR-enabled merchants in Pakistan has skyrocketed by 245% during the fiscal year 2025-26, reaching a remarkable 3.8 million, up from just 1.1 million the previous year. This surge reflects the rapid adoption of digital payment solutions across the country, driven by increasing consumer demand for convenient and secure transaction methods.

According to data released by the State Bank of Pakistan (SBP), these QR-enabled merchants processed an impressive 297 million transactions, amounting to a staggering Rs. 1.6 trillion during FY26. This growth not only highlights the shift towards digital finance but also underscores the efforts of the government and financial institutions to promote cashless transactions in a bid to enhance economic efficiency.

The expansion of QR payment systems is expected to have significant implications for the Pakistani economy, facilitating smoother transactions for businesses and consumers alike. As more merchants adopt this technology, it is likely to foster greater financial inclusion, particularly in underserved areas, and stimulate economic activity by making payments more accessible and efficient.

Looking ahead, stakeholders in the financial sector are optimistic about the continued growth of digital payments. Upcoming initiatives by the SBP aim to further enhance the infrastructure supporting QR payments, with expectations of increased merchant participation and consumer engagement in the coming fiscal year.