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:
|1.||Internet Banking||18pc in volume & 10% in value|
|2.||Mobile Banking||8pc in volume & 5% t in value|