ISLAMABAD: The number of mobile wallets have increased 11 per cent during the second quarter of fiscal year 2014-15 and reached 4.2 million.
As per the SBP Branchless Banking Newsletter, the number of branchless banking transactions increased to 71.1m valuing Rs326.1 billion during the corresponding period, an increase of 17pc in value against the same period last year.
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Meanwhile, the combined agent network of branchless banking players has increased by 14 per cent to 168,615 agents. Currently eight branchless banking players with country-wide presence are providing services including bill payments, money transfers, Government-to-Persons (G2P) payments, loan repayments and mobile top ups.
According to newsletter, G2P payments worth Rs16.9 billion were disbursed via branchless banking channels to 5.3 million beneficiaries during April-June 2014 quarter, higher than Rs15.32 billion disbursed to 4.6 million beneficiaries in the last quarter.
