Mobile & Internet Banking on the Rise in Pakistan: SBP

Mobile phone banking users are on the rise in Pakistan as more than 5 million users have been registered until now. During the last year, a handsome growth in numbers was seen in user accounts and utility of the banking services.

According to the State Bank of Pakistan (SBP), 23 banks are currently providing mobile phone banking facility to their customers’ with the number of registered users crossing the 5 million user mark during the current fiscal year.

These users processed 11.9 million transactions valued at Rs. 271.3 billion using mobile banking apps in Jan-Mar 2019 quarter.

Internet Banking

In Pakistan, 27 banks are currently offering Internet Banking service with the number of registered Internet Banking users reaching 3.1 million. During the quarter under review, 8.6 million transactions valued at Rs.362.3 billion were processed through Internet Banking.

In total, 22 banks are providing banking services through call center/IVR with a registered user-base of 30.8 million. During the quarter under review, 66 thousand transactions amounting to Rs.2.3 billion were processed via Call Centers/ IVR Banking.

Although the registered customer base is high, the transactional volume and the value in comparison to Internet and Mobile banking transactions does suggest that customers are still not inclined towards the use of the banking services through call center/IVR on a routine basis. This is also substantiated from the fact that the transactional volume has decreased by 8.5%.

  • Hahah just 5 million users! They are bragging about 5 million users in a country of 212 million! What a bunch of losers!

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