ISLAMABAD: The country’s Internet banking users have increased by 23 per cent to 1.8 million in fiscal year 2014- 15, as compared to the previous year.
According to SBP’s payment system review-2014-15, the volume of Internet banking has also increased by 3 per cent and transactions value increased by 18 percent. Approximately 4.5m transactions amounting to Rs 219.5b were executed through Internet banking, showing an increase of 11 per cent in volume and 10pc in value as compared to 2013-14.
With regard to mobile banking during the period, the Review showed that volume of mobile banking transactions showed a slight decline reaching to 6.14 million from 6.16 million. However, the value increased by 59 per cent, reaching Rs107 billion as compared to 2013-14.
During 2014-15, the largest share in mobile banking in terms of volume was of utility bills payment which is 52 per cent while in terms of value, the largest share has been contributed by third party account to account funds transfer, having 53 per cent share.
As compared to 2013-14, mobile banking registered users have increased by 36 per cent, reaching to 2.27 million by end of 2014-15.
During quarter-4 of 2014-15, 1.47 million transactions amounting to Rs. 32 billion were executed through Mobile Banking, showing an increase of 14 percent in volume and 16 per cent in value as compared to 2013-14.
As per Review, this data includes conventional banking transactions carried through mobile phones and does not include branch-less banking data.
