According to the annual payment system review for 2013-14, issued by the State Bank of Pakistan (SBP) on Monday, country’s electronic and mobile banking witnessed visible progress and emerged as fastest growing payment channels among all alternative delivery channels (ADCs) in terms of volume and value.
Internet banking shows an impressive growth of 80 per cent, reaching 17 million transactions and mobile banking shows a substantial increase of 149pc, reaching Rs 67.2bn during the year.
ATM transactions also recorded notable increase and stood at 258m of value Rs2.6 trillion, showing a growth rate of around 30pc in volume and value. Whereas, volume and value of call centre and interactive voice response (IVR) banking was 0.67m and Rs9.5bn, respectively, showing growth rates of 4pc in volume and 17pc in value.
The report further discloses that real-time online banking transactions increased to around 98.5m in terms of volume and Rs30.2tr in value, showing a growth of around 11pc each. In large value payments systems, during the fiscal year 2013-14.
