LAHORE: Mobile banking transactions in Pakistan have experienced a significant surge, reaching Rs. 15 billion in the fiscal year 2022-23, marking an impressive increase from Rs. 2.7 billion in 2021-22 and Rs. 2.2 billion in 2020-21.
This growth reflects a remarkable rise in the value of transactions, which reached Rs. 15,466 billion in the same period, compared to Rs. 10,637 billion and Rs. 8,086 billion in the preceding years.
According to a PTA document, mobile wallet accounts in Pakistan have witnessed rapid expansion, surpassing 107 million in 2023, up from 89 million in 2022, 75 million in 2021, and 53 million in 2020. This substantial increase highlights the growing preference for digital financial services among the Pakistani populace, fostering greater financial inclusion and convenience.
Additionally, the number of mobile wallet agents in Pakistan has also seen a steady rise, reaching 630,033 in 2023. While there was a slight decrease from 637,231 agents in 2022 to 534,460 agents in 2021, the overall trend reflects a positive trajectory with consistent growth over the years. In 2020 and 2019, there were 445,181 and 421,053 mobile wallet agents, respectively.
These statistics underscore the increasing adoption of mobile banking and digital payment solutions in Pakistan, driven by advancements in technology and efforts to promote financial inclusion. As mobile banking continues to gain traction, it is expected to play a pivotal role in shaping the future of the country’s financial landscape, offering greater accessibility and efficiency to consumers and businesses alike.
