AIRLINK 81.10 Increased By ▲ 2.55 (3.25%)
BOP 4.82 Increased By ▲ 0.05 (1.05%)
CNERGY 4.09 Decreased By ▼ -0.07 (-1.68%)
DFML 37.98 Decreased By ▼ -1.31 (-3.33%)
DGKC 93.00 Decreased By ▼ -2.65 (-2.77%)
FCCL 23.84 Decreased By ▼ -0.32 (-1.32%)
FFBL 32.00 Decreased By ▼ -0.77 (-2.35%)
FFL 9.24 Decreased By ▼ -0.13 (-1.39%)
GGL 10.06 Decreased By ▼ -0.09 (-0.89%)
HASCOL 6.65 Increased By ▲ 0.11 (1.68%)
HBL 113.00 Increased By ▲ 3.50 (3.2%)
HUBC 145.70 Increased By ▲ 0.69 (0.48%)
HUMNL 10.54 Decreased By ▼ -0.19 (-1.77%)
KEL 4.62 Decreased By ▼ -0.11 (-2.33%)
KOSM 4.12 Decreased By ▼ -0.14 (-3.29%)
MLCF 38.25 Decreased By ▼ -1.15 (-2.92%)
OGDC 131.70 Increased By ▲ 2.45 (1.9%)
PAEL 24.89 Decreased By ▼ -0.98 (-3.79%)
PIBTL 6.25 Decreased By ▼ -0.09 (-1.42%)
PPL 120.00 Decreased By ▼ -2.70 (-2.2%)
PRL 23.90 Decreased By ▼ -0.45 (-1.85%)
PTC 12.10 Decreased By ▼ -0.89 (-6.85%)
SEARL 59.95 Decreased By ▼ -1.23 (-2.01%)
SNGP 65.50 Increased By ▲ 0.30 (0.46%)
SSGC 10.15 Increased By ▲ 0.26 (2.63%)
TELE 7.85 Decreased By ▼ -0.01 (-0.13%)
TPLP 9.87 Increased By ▲ 0.02 (0.2%)
TRG 64.45 Decreased By ▼ -0.05 (-0.08%)
UNITY 26.90 Decreased By ▼ -0.09 (-0.33%)
WTL 1.33 Increased By ▲ 0.01 (0.76%)
BR100 8,052 Increased By 75.9 (0.95%)
BR30 25,581 Decreased By -21.4 (-0.08%)
KSE100 76,707 Increased By 498.6 (0.65%)
KSE30 24,698 Increased By 260.2 (1.06%)

KARACHI: Pakistan’s payment ecosystem continued to show growth in all the major areas particularly in adoption of digital banking during the second quarter of this fiscal year (FY22) supported by concerted efforts by the State Bank of Pakistan (SBP).

The SBP on Friday released its second quarterly report of payment systems for the fiscal year covering the period October-December 2021. The report presents an encouraging picture of the adoption of digital banking in the country.

According to report, in arge-value (wholesale) payments segment, SBP’s Real-time Inter-Bank Settlement Mechanism (PRISM) processed a total of 1.1 million transactions amounting to Rs 161.3 trillion, showing Quarter-on-Quarter (QoQ) growth of 5.9 percent in volume and 1.4 percent in value.

The increasingly favourable behavioural trends of customers towards digital payments accelerated by the pandemic seem to be cementing as the usage of internet and mobile banking both achieved double digit growth of 13.9 percent and 18.8 percent by volume and 28 percent and 35.4 percent by value respectively.

This uptake in e-banking was majorly spurred by 11.9 million mobile banking users and 6.9 million internet banking users, which amounts to a 5 percent and 0.3 percent increase on QoQ basis.

The report revealed that during the quarter under review, customers’ inclination towards use of e-banking continued as it rose to 10.7 percent in volume and 22.8 percent in value of transactions on QoQ basis.

Copyright Business Recorder, 2022

Comments

Comments are closed.