State Bank of Pakistan has said that total transactions in Pakistan carried through internet banking showed an increase of 15.7% in volume and 7.0% in value of transactions during January to March 2014 quarter.
State Bank – in its quarterly review – said that Internet banking constituted a volume share of 4.4% and a value share of 2.1% of overall financial transactions in the country.
Review said that as of 31st March 2014, 24 banks are offering internet banking services, 13 are offering mobile phone banking and 22 are offering call centre/ IVR banking facility to the customers for bill payments, fund transfers and other banking services.
During the current quarter, 68 POS machines have been added in the network bringing the total number of POS machines to 33,802.
According to the report, 393 new ATMs were added to the network (growth rate of 5.1% compared with that in the previous quarter) bringing the total number to 8,077.
ATMs remained the preferred channel for cash withdrawals accounting for 81.2% of the total amount transacted via this mode. Total ATMs transactions constituted a volume share of 63.8% and a value share of 8.1% in total e-banking transactions.
Moreover, total transactions carried through ATMs showed an increase of 5.9% in volume and 6.2% in value of transactions compared with that in the previous quarter.
Pakistan Real-time Interbank Settlement Mechanism (PRISM), a large value payment system, showed a mixed trend of transactions settlement over the last five quarters. During the current quarter, total transactions settled in PRISM showed an increase of 10.2% both in volume and value compared with that in the previous quarter and an increase of 28.7% in volume and a decline of 1.6% in value of transactions compared with that in the same quarter of the previous year.
Internet banking constituted a volume share of 4.4% and a value share of 2.1%, mobile phone banking constituted a volume share of 1.6% and value share of 0.2% and call centers/ IVR banking constituted volume share of 0.2% and value share of 0.03% in total e-banking transactions.
Moreover, total transactions carried through internet banking showed an increase of 15.7% in volume and 7.0% in value of transactions, total transactions carried through POS showed an increase of 7.7% in volume and 10.4% in value, mobile phone banking transactions showed an increase of 14.1% in volume and 13.3% in value of transactions and total transactions carried through call centre/ IVR banking showed a decline of 1% in volume and an increase of 4.1% in value of transactions compared with that in the previous quarter.
In the composition of plastic cards, debit cards have the highest percentage share of over 90.6% followed by credit cards with 5.5% and ATMs Only cards with 3.9% share as of quarter ended 31st March, 2014.
The total number of plastic cards showed an increase of 8.6 % compared with that in the previous quarter and a growth of 11.7% compared with that in the same quarter of the previous year.
But if the government puts some effort to bring Paypal in Pakistan then the percentage will rise from 16% to 20% (or even more). Nigeria, which attains the position of 153rd (HDI), has already been inaugurated Paypal few weeks ago. Whereas Pakistan, which maintains the position of 146th (HDI), has no sign of Paypal. It is requested to admin, please to do something to bring Paypal in the country.
Admin can only pray hard for this buddy :-) I wish he was the admin somewhere in government then he could have surely done something..
Pakistani Banks ka bura haal hai kon khajal ho banks main ja kar. is liya Internet banking hi theek hai.