Mobile banking transactions witnesses high growth.
ISLAMABAD -- With a significant growth of some 195 percent, mobile phone banking transactions crossed Rs 410 billion mark during the last fiscal year (FY18).
According to State Bank of Pakistan (SBP) Mobile Phone/App based banking is being offered by 21 Banks/MFBs to 3.4 million registered users at 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%) million
transactions by volume and Rs. 186.2(45.4%) billion by value.
Inter-bank fund transfers contributed 5.0 (22.9%) million transactions by volume and Rs. 196.4 (47.9%) million by value.
Utility Bills Payments has the share of 10.1 (46.3%)million by volume and Rs.10.5billion (2.6%)by value within overall Mobile Banking volume and value transactions respectively and insignificant residual share is contributed by miscellaneous payment using mobile phone app.
Call Center/ IVR Banking Transactions During the year FY18, Call enters/IVR Banking Channel processed 0.3 million transactions amounting to Rs. 8.7 million. This channel facilitates Intra and Inter-Bank Funds transfers, Utilities Bill Payments.
As on end June2018,there were 26.5 million Call Centers/IVR Banking Channel registered users with Banks. It also facilitates16 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 Centers/IVR Banking collectively processed 756.4 million transactions of value Rs 47.4 trillion during the last fiscal year. These transactions showed significant growth of 21 percent and 28 percent in both volume and value of transactions compared to previous year FY17.
During the year under review, Real Time Online Branches (RTOB) processed 165.7 million transactions of Rs 39.9 trillion.
These transactions depicted YoY growth of 15 percent and 28 percent in volume and value of transactions respectively compared to previous year.
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|Publication:||Balochistan Times (Baluchistan Province, Pakistan)|
|Date:||Sep 29, 2018|
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