Internet Banking Users Made Transactions of Over Rs. 1 Trillion in FY18

The usage of internet banking has increased immensely among Pakistanis as the value of online transactions crossed the Rs. 1 trillion milestone for the first time in the country’s history during the financial year 2017-18.

According to the State Bank of Pakistan (SBP), as many as 3.1 million users have been registered with 28 banks offering internet banking services. These users employed internet banking services 31.2 million times and made transactions amounting to Rs.1.2 trillion during FY18. The transactions showed a growth of 23.9% and 30.3% respectively compared to the previous year.


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For internet banking transactions, following are the shares under different categories:

  • Intra-bank funds transfer transaction share stands at 25.7 % or Rs. 323.8 billion.
  • Inter-bank funds transfer transaction share stands at 36.6% or Rs. 462.1 billion.
  • Utility bills payments share stands at 2.4 % or Rs. 29.7 billion (2.4%)
  • Other payments were done under school/university fee submission, mutual fund payments, credit card payments etc.
  • Internet Banking also facilitated 99.8 million non-financial transactions, which include pay order, cheques books, bank account statements and debit cards requests etc.

Mobile Banking Registers Impressive Growth of Nearly 200%

Surprisingly, the transactions in terms of volume and value using mobile phone services were also significant, showing a growth of 195.6 % and 189.8% during FY18 compared with the previous year.

Shares of mobile banking transaction values stand at:

  • Intra-bank fund transfer shares stand at 45.4 % Rs. 186.2 billion.
  • Interbank fund transfers share stands at 47.9% or Rs. 196.4 million.
  • Intra-bank and Inter-bank fund transfer were the main contributors in total mobile phone banking transactions.
  • Utility Bills Payment share stands at 2.6% or Rs. 10.5 billion

Mobile banking service was introduced later than internet banking but its users are higher than internet banking standing at 3.4 million, however, its usage is less than internet banking among users.

The number of banks offering mobile banking services through mobile apps stands at only 21 – less than internet banking service which is being offered by 28 banks. These users’ processed 21.8 million transactions worth Rs. 409.8 billion during FY18.

The channel has a growing trend of transactions and during the year FY18, it showed a significant growth compared to the previous year.

In Pakistan, various commercial banks are offering a variety of financial services through Internet Banking (IB) and Mobile Banking like intra-bank and interbank fund transfer, scheduled funds transfer, utility bill payments, mobile air-time top up, Intra-bank credit card payments, school fee payments etc.

The service utility could be enhanced by increasing the reliability and adoption by different banks along with product development under different categories. This will also improve digitization of the banking system and financial inclusion of the economy as well.