Mobile banking transactions surge to Rs2.2 trillion


KARACHI: The number of deals conducted via mobile banking channels grew 29 per cent by volume and 36pc by value at79.1 million and Rs2.2 trillion during the July-September quarter of 2021-22.

The State Bank of Pakistan (SBP) in its daily report released on Monday said thate-banking — defined as deals conducted via electronic channels ( including Real- time Online Branches, ATMs, mobile banking, internet banking, call centre banking, POS ande-commerce) — continued to thrive in both volume and value during the quarter under review as it jumped by 12pc and 16pc, independently, in Q1FY22 over the same quarter of FY21.

The report shows that Pakistan’s payment ecosystem, especially through digital platforms, continued its brisk pace of growth.

Two major areas where high relinquishment in digital payments was witnessed are mobile and internet banking.

The number of mobile banking druggies grew by 4pc on a quarter-on- quarter (QoQ) base, reaching a aggregate of11.3 million.

Internet banking also contributed to the upswing in the operation ofe-banking services by registering 31pc growth in internet banking druggies who conducted 30 million deals amounting to Rs1.9 trillion.

This amounts to 6pc progress in terms of volume and 10pc increase in the value of these deals on a quarter-to- quarter base. “ Retail sector continued to show relinquishment of digital payments,” said the report.

Overalle-commerce deals recorded a growth of 87pc by volume and 21pc by value during the quarter.

“ During the quarter,12.7 me-commerce related deals amounting to Rs22.3 billion were conducted using digital payment channels,” said the report.

Also, the number of trafficker Point-of- Trade (POS) machines also increased by 10pc reaching machines.

“ These machines reused28.1 million card- grounded deals at trafficker locales amounting to nearly Rs134.9 bn which showed an increase of16.1 pc by volume and10.6 pc by value.

“ As of end-September 2021, there were46.2 m total cards in rotation which substantially comprised of disbenefit cards (64pc), social weal cards (22pc), ATM only cards (10pc), credit cards (4pc), and repaid cards (0.3 pc),” the report added.

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