Banking is one of the most information intensive sectors and is an ideal domain for the successful development of E- Commerce. ebanking refers to the use of the Internet as a remote delivery channel for banking services.
It has fulfilled customer’s anywhere, anytime, anyway banking dream. Ebanking involves consumers using the Internet to access their bank account and to undertake banking transactions. With the passage of time, we see a lot of banks coming up on the scene and competition is already on its way.
Every bank is trying to use as much latest technology as it can to facilitate its customers. One of the key features in this regard is eBanking, which a lot of banks are currently providing in Pakistan.
Though with the passage of time, ebanking trend is increasing in Pakistan, but still there are a lot of customers, who hesitate to give their information online, like Debit/Credit card numbers. This is not only at customer’s end, even a lot of banks are still afraid of giving ebanking solution in Pakistan.
Everyone who has a little knowledge of eBanking knows that all cards with Visa and Orix logo can be used anywhere on internet for purchase – there are a lot of banks is Pakistan issuing credit cards, even debit cards with Visa logo, I would mention ABL (Allied Bank Ltd.) has just launched a new Credit Card also with Visa logo but all they are just for offline purchase and cannot be used on internet.
Talking to an ABL representative, why this is so, that cards with even Visa logo can’t be used over internet, the answer was:
Still there are a lot of security problems in Pakistan, so we cannot afford allowing users to have e-transaction. And there are no chances in near future that ABL may start this service.
In this situation where our banks are not courageous to offer ebanking, how will customers get the trend then? But this is not the end of story, on other hands we see a lot of banks in the list that are facilitating their customers with good online facilities and top of them are Standard Chartered Bank and UBL (United Bank Limited).
Their debit and credit cards are available for use on internet but still people are very less aware of this, UBL wiz card is first Pakistani Debit Card that can be used on internet for purchase.
With the passage of time, trend is changing but still we are lacking in use of modern technology which must be utilized to save money, problems and most important thing ‘ Time’. An awareness campaign may be started to make people aware of useful benefits of ebanking, like easy purchase, pay your bills, and make transactions from your offices and home.
This thing may give enough wakefulness to each and every single person that he/she may start asking his/her bank to provide ebanking at ease. Hope this will work to make the banks to start online services to meet up the present advancement of world.
Ebanking in Pakistan is till on its way and hope to have some fruitful advancements in future.