PRISM: Value of transactions goes up 21% in Jan-Mar

Interbank Funds Transfer registers major share in increase.

KARACHI: Pakistan Real-time Interbank Settlement Mechanism (PRISM) settled transactions of Rs51.5 trillion in January-March, which is up 21% in value from the second quarter of 2014-15.

According to the State Bank of Pakistan (SBP), PRISM settled 198,250 transactions during the last quarter, which translates into an increase of 5% over the preceding quarter.

The major share in the rise witnessed in the number of PRISM transactions was of Interbank Funds Transfer, which increased by almost 6%, the SBP said. In contrast, the surge in the value of PRISM transactions was backed by securities settlement that increased by almost 45% during the period under review.

The volume and value of internet banking transactions showed an increase of 10% and 6%, respectively, during the third quarter of 2014-15.

The volume and value of Point of Sale (POS) transactions have declined slightly by 1.4% and 3%, respectively, compared to preceding three-month period.

The volume of mobile banking transactions decreased 15% while its value increased 14% compared to the October-December quarter. Similarly, Automated Teller Machine (ATM) transactions showed growth of 2% in volume and 6% in value with respect to the last quarter of 2014-15.

The volume of Real-Time Online Banking (RTOB) transactions showed a rise of over 6% while its value reflected a slight decrease of 0.8% over the second quarter of 2014-15. Non-financial transactions showed growth of over 4% during the period under review.

The network of ATMs grew 3.3% to 9,312 during the third quarter of the current fiscal year. As many as 2,341 POS machines were installed by banks in January-March, which reflects an increase of 7% over the second quarter of 2014-15.

Published in The Express Tribune, May 13^th,  2015.

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