ISLAMABAD: The branchless banking transactions stood at 68.5 million and were worth Rs278.3 billion during Jan-March 2014.
The data shows 27 per cent growth in volume and 19 per cent growth in value of transactions over the same period last year. In comparison, growth in volume and value of transactions were only 4 per cent and 5 per cent respectively in the last quarter. Average daily branchless banking transactions in Pakistan are estimated to cross one million mark within this year, revealed a quarterly review for branchless banking sector. The review said that Waseela, Timepey and, U-paisa showed the highest growth in volume of transactions during the quarter. Yet, in terms of market shares by volume, Easypaisa remained the leader capturing 55 per cent share, followed by Omni which seized 24 per cent share.
Whereas the share of other players collectively accounted for 21 per cent of total volume of transactions during the quarter.
The review said that on average, number of daily transactions crossed 760,000. Considering the growth rate, it said, the market will easily cross one million daily transactions during this year. The significant increase in transactions was characterized by bills payments, domestic remittances, and Government to Person (G2P) payments.
