Mobile banking transactions grow by 195pc

ISLAMABAD: With a significant growth of some 195 per cent, mobile phone banking transactions in Pakistan had crossed the Rs410 billion mark in the last fiscal year (FY18).

According to the State Bank of Pakistan (SBP), mobile phone/app-based banking was being offered by 21 banks to 3.4 million registered users by the end of June 2018.

Intra-bank and Inter-bank fund transfer were the main contributors in total mobile phone banking transactions. Intra-bank fund transfers contributed 5.8 (26.6 per cent) million transactions by volume and Rs 186.2 (45.4 per cent) billion by value. Inter-bank fund transfers contributed 5 million (22.9 per cent) transactions by volume and Rs196.4 million (47.9 per cent) by value.

Utility bill payments had the share of 10.1 million (46.3 per cent) by volume and Rs10.5 billion (2.6 per cent) by value within the overall mobile banking volume and value transactions respectively.

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Call centres/IVR banking channel processed 0.3 million transactions amounting to Rs8.7 million. This channel facilitates Intra and Inter-bank fund transfers, utility bill payments.

As on June 30, 2018, there were 26.5 million call centres/IVR banking channel registered users with banks. It also facilitates 16 million non-financial transactions during the year.

The e-banking channels, i-e real-time online branches (RTOB), ATMs, e-commerce, internet, mobile phone and call centres collectively processed 756.4 million transactions of value Rs 47.4 trillion during the last fiscal year. These transactions showed significant growth of 21 per cent and 28 per cent in both volume and value of transactions compared to previous year FY17.

During the year under review, RTOB processed 165.7 million transactions of Rs 39.9 trillion. These transactions depicted the YoY growth of 15 per cent and 28 per cent in volume and value of transactions respectively compared to the previous year.

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