ATM network grows to record level

Total number of ATM machines in the country rises to record 4,734.

KARACHI: The scope of electronic payments continued to grow in the second quarter (October-December) of the current fiscal year, as 172 automated teller machines (ATMs) were added to the e-banking infrastructure, bringing the total number in the country to a record 4,734.

According to the State Bank’s Second Quarterly Report on Payments Systems released on Friday, the volume and value of overall e-banking transactions during the quarter reached 56.42 million and Rs5.5 trillion, respectively, showing an increase of 7.3 per cent in volume and 17.47 per cent in value, compared with the previous quarter.

ATMs, being the largest channel for e-banking transactions, showed a 5.6 per cent increase in number of transactions and 9.5 per cent increase in value, which resulted in average value of Rs8,804 per transaction.

Published in The Express Tribune, February 19^th, 2011.