Online banking: E-banking transactions rise 29% in July-Sept quarter

ATMs have the highest share of 64.6%, says SBP’s Payment Systems Review.


Our Correspondent December 27, 2013
During the quarter under review, Pakistan Real-time Interbank Settlement Mechanism (PRISM), the large value payment system of the country, processed 131,000 payments worth Rs30.6 trillion. CREATIVE COMMONS

KARACHI:


The volume of e-banking transactions grew by 29% in the July-September quarter compared to the corresponding three-month period last year while the quarter-on-quarter increase stood at 5.2%, according to the Payment Systems Review for the quarter released by the State Bank of Pakistan (SBP) on Friday.


In terms of composition of total e-banking transactions in terms of volume, ATMs enjoyed the highest share of 64.6% followed by real-time online branches (RTOB), which maintained a 22.8% share. The rest of the transactions consisted of point-of-sale (POS), internet, call centre and mobile banking.

In terms of value, RTOB has an 87.6% share followed by ATM with a 9.2% share, the review revealed.

http://i888.photobucket.com/albums/ac89/etwebdesk/70_zps32e903c4.jpg

The report aims to highlight recent developments in the area of large and retail value payment systems in Pakistan.

During the quarter under review, Pakistan Real-time Interbank Settlement Mechanism (PRISM), the large value payment system of the country, processed 131,000 payments worth Rs30.6 trillion.

This shows a decrease of 2.8% and 26.7% in volume and value respectively, compared to the preceding quarter. This decrease is mainly due to a reduction in government securities settlement transactions by the central bank, a spokesman for the central bank noted.

The number of ATMs in the country is growing at an average of around 3.2% per quarter, reaching 6,974 ATMs by the end of December. As on September 30, for every 100,000 people, there were 3.8 ATMs in the country. About Rs591 billion was transacted using this channel during the same period, the review says.

The number of transactions done via ATMs reached around 60 million in the first quarter of 2013-14.

http://i888.photobucket.com/albums/ac89/etwebdesk/38_zpsa5d89f3b.jpg

The number of RTOB is 10,135, which account for 95% of the total bank branches in the country. Around 21 million transactions amounting to Rs5.6 trillion were performed via this channel during July-September.

As on September 30, there were around 18.5 POS machines for every 100,000 people in the country, it said.

The fastest growing payment channel in the country is mobile banking, where the number of transactions grew by 70% and the value transacted grew by 236% as opposed to the same three-month period last year. Presently, there are around 1.4 million registered users of mobile banking in the country.

The number of plastic cards (debit, credit and ATM-only cards) in the country reached 23.4 million under the period under review, showing growth of 4.7% over the preceding quarter. The number of debit cards is significantly high (89%) among plastic cards, the review said.

Published in The Express Tribune, December 28th, 2013.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.

COMMENTS

Replying to X

Comments are moderated and generally will be posted if they are on-topic and not abusive.

For more information, please see our Comments FAQ