Pakistan Cards and Payments - Opportunities and Risks to 2026

Pakistan Cards and Payments - Opportunities and Risks to 2026

Summary

GlobalData’s ‘Pakistan Cards and Payments - Opportunities and Risks to 2026' 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, credit transfers and direct debits during the review-period (2018-22e).

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 (2022e-26f). 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.

The 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, credit transfers 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.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• The competitive landscape of the Pakistani cards and payments industry.

• Raast is an account-to-account-based instant payment system developed by the State Bank of Pakistan (SBP) to drive the adoption and usage of electronic payments in the country. Operating on a 24 hours a day, seven days a week, 365 days a year basis, Raast is being implemented in three phases. The first phase went live in January 2021. As part of the first phase, Raast supports payments such as salaries and dividend payments as well as government welfare disbursements. In the second and third phases, P2P and consumer-to-business payments will be launched in the future. The system enables payments via different channels such as online and mobile banking as well as banking agents, supporting payments using mobile phone numbers, email addresses linked to a bank account, and QR codes. As of November 2022, 44 banks had joined Raast.
• 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 ($17.02) to drive card usage for lower-value payments. Previously, the SBP directed banks to implement the 3-D Secure protocol for secure online transactions in 2019.
• To complement the government’s financial inclusion efforts, banks are increasingly using banking agents to reach out to the unbanked population in rural areas. There were 637,231 banking agents operating in Pakistan as of June 2022, compared to 612,901 in March 2022.

• 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.