Pakistan Cards and Payments – Opportunities and Risks to 2026
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Pakistan Cards and Payments Market Report Overview
The Pakistan cards and payments market size was valued at $5.7 billion in 2022 and is expected to achieve a CAGR of more than 12% during 2022-2026. The government launched the National Financial Inclusion Strategy in May 2015, aiming to push financial inclusion among unbanked and underbanked individuals. Adoption of basic bank accounts, increasing the number of bank branches, offering banking services via banking agents, expanding ATMs and point-of-sale (POS) terminals, and promoting financial awareness are among the strategy’s key objectives.
The Pakistan cards and payments market research report provides a detailed analysis of market trends in the Pakistani cards and payments industry. The report provides values and volumes for several key performance indicators in the industry, including cash, credit transfer, cards, mobile wallets, cheques, and direct debits during the review period. It 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. Moreover, it offers information on the country’s competitive landscape, including market shares of issuers and schemes.
Pakistan Cards and Payments Market Outlook
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Pakistan Cards and Payments Market Dynamics
The government has taken various measures to strengthen the country’s e-commerce space. In February 2022, it launched the National E-Tijarat Portal e-commerce platform, enabling the country’s SMEs to sell locally manufactured products online. By the end of 2023, the government aims to onboard over 40,000 SMEs to the platform.
To encourage card acceptance among smaller merchants, banks are offering low-cost mobile POS solutions. In April 2022, Bank Alfalah partnered with Egyptian fintech Paymob to introduce mobile POS terminals for merchants. Similarly, in March 2022, HBL Bank partnered with Visa to offer mobile POS payment solutions in Pakistan.
Pakistan Cards and Payments Market Segmentation by Payment Instruments
The key payment instruments in the Pakistan cards and payments market are cash, cheques, cards, credit transfers, and direct debits. Consumers prefer paying with cash, which accounts for most of the country’s payment volume. Inadequate payment infrastructure has hindered the adoption of electronic payments in the country.
Pakistan Cards and Payments Market Analysis, by Payment Instruments
For more payment instrument insights into the Pakistan cards and payments market, download a free report sample
Pakistan Cards and Payments Market Segments
The key segments in the Pakistan cards and payments market are card-based payments, e-commerce payments, and alternative payments.
Pakistan Cards and Payments Market - Competitive Landscape
Some of the leading players in the Pakistan cards and payments market are Allied Bank, HBL, MCB Bank, UBL, Bank Alfalah, Askari Bank, Faysal Bank, Standard Chartered, and American Express.
Pakistan Cards and Payments Market Report Overview
Market Size (2022) | $5.7 billion |
CAGR (2022-2026) | >12% |
Key Payment Instruments | Cash, Cheques, Cards, Credit Transfers, and Direct Debits |
Key Segments | Card-Based Payments, E-Commerce Payments, and Alternative Payments |
Leading Players | Allied Bank, HBL, MCB Bank, UBL, Bank Alfalah, Askari Bank, Faysal Bank, Standard Chartered, and American Express |
Segments Covered in the Report
Pakistan Cards and Payments Instruments Outlook (Value, $ Billion, 2018-2026)
- Cash
- Cheques
- Cards
- Credit Transfers
- Direct Debits
Pakistan Cards and Payments Market Segments Outlook (Value, $ Billion, 2018-2026)
- Card-Based Payments
- E-Commerce Payments
- Alternative Payments
Scope
This report provides:
- Current and forecast values for each market in the Pakistani cards and payments industry, including debits and credit cards
- Detailed insights into payment instruments including cash, cheques, cards, credit transfers, and direct debits. 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.
- Comprehensive analysis of consumer attitudes and buying preferences for cards
- The competitive landscape of the Pakistani cards and payments industry
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.
HBL
MCB Bank
UBL
Bank Alfalah
Askari Bank
Faysal Bank
Standard Chartered
American Express
Visa
Mastercard
China UnionPay
PayPak
Easypaisa
JazzCash
Keenu Wallet
SimSim
Upaisa
Huawei Pay
SadaPay
Table of Contents
Frequently asked questions
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What was the Pakistan cards and payments market size in 2022?
The cards and payments market size in Pakistan was valued at $5.7 billion in 2022.
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What is the Pakistan cards and payments market growth rate?
The cards and payments market in Pakistan is expected to achieve a CAGR of more than 12% during 2022-2026.
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What are the key payment instruments in the Pakistan cards and payments market?
The key payment instruments in the Pakistani cards and payments market are cash, cheques, cards, credit transfers, and direct debits.
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What are the key segments in the Pakistan cards and payments market?
The key segments in the Pakistani cards and payments market are card-based payments, e-commerce payments, and alternative payments.
-
Who are the leading players in the Pakistan cards and payments market?
Some of the leading players in the Pakistan cards and payments market are Allied Bank, HBL, MCB Bank, UBL, Bank Alfalah, Askari Bank, Faysal Bank, Standard Chartered, and American Express.
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