In Financial Year 2023, electronic banking transactions accounted for 85% of all bank and microfinance bank payments, while paper-based transactions comprised the remaining 15%, as reported by the State Bank of Pakistan. This marked a rise from FY 2022 when e-banking constituted 80% and paper transactions were 20%. The shift towards digital channels was driven by the post-Covid era, with 2.073 trillion e-banking transactions valued at Rs167.4 trillion, showing a 28.6% increase in volume and 21.4% in value. Real-time online branch transactions held the majority in value at 68.1%, while internet and mobile phone banking led in volume at 40.1%. Additionally, the number of payment card, internet banking, and mobile banking users saw significant growth. E-money institutions also thrived, opening over two million e-wallets and processing 86.8 million transactions worth Rs. 234 billion.