Payments via e-Channels Rise by 29% in 2015-16: SBP

Payments via e-Channels Rise by 29% in 2015-16: SBP. The  Annual Payment Systems Review announced by the State Bank of Pakistan (SBP) has highlighted that Pakistanis have increasingly used electronic channels for payments during the year 2015-16. On the other hand, the number of paper-based transactions decreased from 6pc to 339.7 million during 2015-16. This indicates that digital payment system is growing in Pakistan, hence welcoming a new era of digital financial inclusion in the country.

Payments via e-Channels Rise by 29% in 2015-16: SBP

The SPB said that:

“Paper-based transactions make up approximately 38pc of the volume of total retail payments.”

It is an encouraging thing that the value and volume of e-payments channels is experiencing a rapid upward trend in Pakistan.

Also use of e-banking channels have shown an optimistic trend as transactions rose 16% in volume and 4% in value.

The report also indicates that real-time online banking transactions rose by 19% in volume and 2pc in value during 2016-16. Some other stats revealed by the report of SBP include that:

S.NO.Areas2015-2016
1.Internet Banking18pc in volume & 10% in value
2.Mobile Banking8pc in volume & 5% t in value

Also Read: Digital Commerce and Payments Potential in Pakistan

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