Increase in Mobile Banking Transactions by 195pc – Research Snipers

Increase in Mobile Banking Transactions by 195pc

mobile banking transactions

The mobile banking transactions in Pakistan have shown a significant growth of 195 per cent. It has crossed the rupees four hundred and ten billion mark in the last financial year (FY-18).

As per the State Bank of Pakistan (SBP), the service of mobile banking or app-based banking was being offered by twenty-one banks to 3.4 million registered users by the end of June-2018.

The major contributors in the mobile phone banking transactions had been intra-bank and inter-bank fund transfers. The Intra-bank fund transfer made for 26.6 per cent transactions by volume and 45.4 per cent billion by value.

Whereas the Inter-bank fund transfers make for 22.9 per cent transactions by volume and 47.9 per cent by value.

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The share of utility bill payments had been 46.3 per cent by volume and 2.6 per cent by value within the complete mobile banking volume and value transactions respectively.

The call centres/IVR banking channel processed 0.3 million transactions amount for Rs 8.7 million. It also facilitated the 16 million non-financial transactions during the year.

The complete procession was of 756.4 million transactions of value Rs 47.4 trillion during the last financial year of the e-banking channels i.e. the real-time online branches (RTOB), ATMs, internet, call centres, mobile phone and e-commerce. These transfers indicate major growth of twenty-one per cent and twenty-eight per cent in both the volume and value of transactions in comparison to that of last year that is FY-17.

For the year under consideration, the RTOB processed 165.7 million transactions of Rs 39.9 trillion. These financial transactions show the year-on-year growth of fifteen per cent and twenty-eight per cent in volume and value of transactions respectively in comparison to that of the last year.

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