Pakistan leads South Asia in ‘mobile money’

Published: February 9, 2016
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PHOTO: AFP

PHOTO: AFP

Pakistan is leading its way in South Asia with nine per cent of its male and two per cent of its female citizens using mobile phones to carry out financial transactions, a recent World Bank report has claimed.

The study conducted by World Bank’s Global Findex Database, which provides in-depth data on how individuals save, borrow, make payments and manage risks, revealed that an average three per cent of people in South Asia used a mobile phone to send or receive money in 2014.

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SOURCE: GLOBAL FINDEX DATABASE

“While there are still gaps between how often men and women use these services, Pakistan leads the region with 9% of men and 2% of women moving money on their mobiles,” the findings of the research read.

The Global Findex is the world’s most comprehensive database on financial inclusion that consistently measures people’s use of financial services across countries and over time.

Roadmap to realise Pakistan’s digital potential

Surprisingly, India ranks second in the list of mobile money with three per cent of its male while just one per cent of its female population making use of their cellular phones for carrying out financial transactions.

The Global Findex indicators are drawn from survey data collected by Gallup, Inc over the 2014 calendar year, covering around 150,000 adults in more than 140 economies and representing about 97% of the world’s population. The set of indicators will be collected again in 2017.

The research questionnaire was piloted in multiple countries, using focus groups, cognitive interviews, and field testing.

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Further, the indicators outlined in the study will allow national and international policy makers, researchers, businesses and development practitioners to track how the use of financial services has changed over time.

Besides, the research database can also be used to identify gaps in access to the formal financial system and design policies to expand financial inclusion.

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Reader Comments (10)

  • Mahmood
    Feb 9, 2016 - 5:54PM

    Good effort by companies like TPL Trekker, Systems Limited, NetSol and banking and mobile companies…………its long way to goRecommend

  • Murtaza
    Feb 9, 2016 - 7:10PM

    Where in the report does it say this? I believe Sri Lanka has much higher penetration rates.Recommend

  • Sam
    Feb 9, 2016 - 7:19PM

    Lol…not only by mobile, but money transaction is done by laptops and desktops too…..
    yes load shedding area people use mobile more than laptops for online activitiesRecommend

  • Vivan
    Feb 9, 2016 - 7:23PM

    Is it?…well curious to know the turnover of Pakistan’s E-commerce market :)Recommend

  • Murtaza
    Feb 9, 2016 - 10:36PM

    @Vivan:
    The whole sector’s turnover is less than a single super market in Karachi. Ecommerce is in its infancy in Pakistan.Recommend

  • optimist
    Feb 10, 2016 - 1:30AM

    If India was ahead, the Indians wouldn’t be finding flaws in the report.
    .
    One person above is rubbishing world bank report because he ‘thinks’ that Sri Lanka is ahead!Recommend

  • optimist
    Feb 10, 2016 - 2:08AM

    My Indian friends love big numbers so much. So let me give them some numbers:
    .
    The worst number in Sub Saharan Africa of child malnourishment is 24%. In Madya Pardesh it is 60%. (ref: Republic of Hunger, a documentary available on youtube).
    .
    Now you do the maths to impress us how many times India is ahead in child malnourishment (and e-commerce when it come to Pakistan?Recommend

  • Murtaza
    Feb 10, 2016 - 11:53AM

    @optimist:
    India’s way ahead in ecommerce. They already have homegrown ecommerce firms that have been valued at over a billion dollars. They also have $100bn a year in IT exports.

    BTW not everyone here is Indian. I’m writing this from Karachi.Recommend

  • Humna
    Feb 10, 2016 - 12:39PM

    For all those who thought Technology cannot penetrate the Pakistani Market easily face palm

    All the best to our people, we survive in the toughest challenges the world throws at us :)Recommend

  • Murtaza
    Feb 11, 2016 - 6:15PM

    @optimist:
    I’m asking for the page in the report where it says this because I can’t find it. All I see is on page 84 of the report there is a table listing “Account penetration” rates and it says Sri Lanka has an 83% rate and Pakistan is at 13%. Is this for all bank accounts or mobile accounts only I’m not sure.

    Also you underestimate Sri Lanka. It has a much higher per capita income and education levels than Pakistan. It’s economy has been growing much faster than Pakistan’s especially since the end of the civil war in the ’09.Recommend

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