Digitalization in Pakistan thrives on a growing e-commerce landscape but faces liquidity challenges, and digital banking rises amidst a cash-centric Fintech landscape.
- Pakistan is the 36th largest market for eCommerce globally with a predicted revenue of US$8,085.1 million in 2023, placing it ahead of Romania. Revenue is expected to show a compound annual growth rate (CAGR 2023-2027) of 5.7%, resulting in a projected market volume of US$10,095.4 million by 2027. || Source: E-commerce DB
+ However, 95% of e-commerce companies collect payments via cash-on-delivery, elevating liquidity needs and necessitating dedicated teams for cash management, raising operational expenses. || Source: ITA - Pakistan’s Fintech scene is nascent, with a cash-oriented economy, but digital banking is rising with a 12% drop in cash use in 2022. || Source: Forbes
+ There are also more than 49.2 million Facebook users in Pakistan and several local companies now use social media to promote their products and services. || Source: Pakistan Telecommunication Authority - Google Chrome was the most popular browser in 2023, accounting for 56 percent of total visitors, followed by Microsoft Internet Explorer/Edge (21%). The remaining 23 percent of searches are through Android, Safari, Opera, Opera Mini, UC Browser, Safari and Maxthon respectively. || Source: ITA
