Digital funds: E-banking transactions rise by 6.4%

Payment system infrastructure continued to grow as 203 more ATMs were added during the quarter.

KARACHI:

The volume and value of e-banking transactions in the country rose by 5.9% and 6.47% to reach 70.9 million and Rs6,871 billion respectively in the third quarter (January-March) of the current fiscal year compared to the preceding quarter, says the State Bank of Pakistan’s Payment Systems Quarterly Review for the third quarter released on Tuesday.

According to the review, the payment system infrastructure continued to grow as 203 more automated teller machines (ATMs) were added during the quarter, bringing the total number of ATMs to 5,612 whereas 269 bank branches were upgraded to real-time online branches.

Elaborating the year-on-year growth trend, the review said the volume and value of e-banking transactions grew by 19% and 18% respectively in January-March 2012 as compared to the same period of last fiscal year.

Published in The Express Tribune, May 30^th, 2012.