Pakistan’s credit card market recorded its largest-ever quarterly growth, with the number of cards in circulation jumping by 900,000 in just three months, according to Gallup Pakistan’s Digital Analytics Dashboard based on data from the State Bank of Pakistan (SBP).
The total number of credit cards increased from 2.2 million in FY25 to 3.1 million in Q1 FY26 (July-September 2025), up by 44 percent.
The addition exceeds the total net growth recorded over the previous six years, during which the credit card base rose from 1.6 million to 2.2 million.
The surge coincided with a sharp rise in credit card usage. SBP data shows the value of credit card transactions at ATMs increased nearly sixfold during the same quarter.
Despite the unprecedented jump, no major bank, fintech, or financial institution publicly announced a large-scale credit card issuance campaign during the period.
The increase could be linked to a major card issuance, a regulatory reclassification of certain card products, or the launch of new credit-based payment products. SBP hasn’t revealed anything on this so far.
Debit cards continue to dominate Pakistan’s payment landscape, accounting for around 90% of the country’s 61.3 million payment cards, while credit cards represent about 4 percent.
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