Transactions through e-banking channels hit Rs 47.4 trillion in FY2018: SBP

0

LAHORE: The volume of transactions in the last fiscal year 2017-18 processed through retail online banking channels, i.e. real-time online banking (RTOB), ATMs, point of sale , mobile phone banking, Internet banking, etc.

According to the State Bank of Pakistan’s “Annual Performance Review 2017-18” report, RTOB transactions accounted for 84.1% of transaction value with a volume share of 21.9%.

However, ATMs have the largest share of 62.2% with a value share of 11.7%, SBP said.

Further, ATMs in the financial year 2018 processed 470.6 million transactions worth Rs 5.5 billion and cash withdrawals constituted the bulk of these transactions in terms of volume of Rs 446 .7 million (94.9%) and worth Rs 4.84 trillion (87.2%).

The rest of the transactions were related to intra and interbank funds transfers, utility bill payments and cash/instrument deposit transactions, the average size of a single ATM transaction was Rs 11,793 .

SBP said the ATM network had grown to 14,019 by the end of June 2018, while a network of 53,511 POS machines exist in Pakistan.

The central bank said the total number of payment cards comprising credit, debt, social protection and prepayment issued in Pakistan reached 40.9 million at the end of June 2018, up from 36.6 million in June 2017, showing growth. by 11.7%.

Further, the number of debit cards issued in the country reached 21.7 million and in the financial year 2018, they were used in 441.1 million transactions amounting to Rs 5.1 trillion.

And the number of credit cards issued during the aforementioned period reached 1.4 million and were used in 35.5 million transactions valued at Rs 201.5 billion in the financial year 2018.

Currently, internet banking is offered by 28 banks/MFBs and mobile phone banking alongside call centers/IVR banking by 21 financial institutions.

SBP said that apart from merchant payments, five banks offer cash withdrawals through a POS system, while 28 banks in Pakistan offer DFS through internet banking to 3.1 million. registered internet banking users in the country as of the end of June 2018.

Annual point-of-sale transactions touched 63.5 million or Rs 297 billion, and internet banking processed 31.2 million transactions worth Rs 1.2 trillion during the financial year 2018.

“Mobile and app banking services are offered by 21 banks and MFBs to 3.4 million registered users in the country. The chain processed 21.8 million transactions worth 409.8 billion rupees in the financial year 2018.

The number of local e-commerce merchants registered with banks reached 1,094 and consumers conducted 3.4 million online e-commerce transactions worth Rs 18.7 billion.

“The volume of transactions conducted through PRISM reached 1.7 million worth Rs 361 trillion in FY18.

Third-party customer transfer transactions have the largest share in terms of volume with 1.3 million transactions worth Rs 24.6 trillion, while in terms of value, commercial transactions in government securities have the highest value at 256.4 trillion rupees, followed by interbank funds transfer transactions. with a value share of Rs 65.6 trillion,” SBP said.

Share.

About Author

Comments are closed.