E Banking Transactions

The use of e banking transactions has witnessed healthy trend in Pakistan’s banking industry with rising awareness and utility of the consumers as evident from an increase of e-banking transactions by 16% in volume and 4% in value in the monetary year 2015-16. As indicated by State Bank of Pakistan (SBP), the real-time Online or e banking transactions additionally rose 135.4 million by volume and Rs. 32.3 trillion by value demonstrating an increase of 19% in volume and 2% in value of e-banking transactions amid the period under review.

More, Easily Obtain Internet Banking Solution

E Banking Transactions Tendency

The use of Alternate Delivery Channels ADCs, for example, ATMs, POS terminals, Internet and Mobile Banking additionally showed rising trend as of June 16. A total of 39.2 million transactions esteeming approximately Rs.200 billion were carried out at POS terminals as compared to 32.1 million transactions valuing Rs.172 billion. It showed a surge of 22% in volume and 16% in value as compared to the previous year.

Likewise, the Internet and Mobile banking additionally showed steady development. The Internet Banking rose to 18% in volume. Moreover, a total of 10% in value whereas Mobile Banking showed an increase of 8% in volume and 5% in value amid the period under review. Payment System Infrastructure likewise showed phenomenal development amid the period under review. The number of branches increased from 11,937 to 13,179 whereas adding up to the number of ATMs installed in the nation rose from 9,597 to 11,381 amid the year. Then again, 9,586 POS terminals were added to the network totaling 50,769 POS terminals as on June 30, 2016.

Amid FY16, Payment Systems in Pakistan have demonstrated remarkable development in key performance pointers. It is encouraging to witness consistent upward trend in volume and value of payments through advanced/electronic channels which complement the SBP vision to promote computerized payments in the nation. The volume and value of Large Value Transactions through RTGS reached 930,501 and Rs. 231.7 trillion respectively amid FY16 demonstrating an increase of 21% and 29% of volume and value respectively from the FY15. It shows enhancing e banking transactions trend.

Also Examine, Now Enjoy Better Customer Service from Banks

In spite of the fact that the volume of paper-based transactions has decreased by 6 % amid the year, despite everything they constitute approximately 38% of the volume of aggregate retail payments.

SBP Policy

The SBP is chipping away at a two-dimensional strategy for effectively enabling the selection of electronic/advanced payments by the general open in Pakistan. Firstly, the expansion of infrastructure at three different levels: instruments (like cards and wallets), access focuses (like ATMs, POSs, and mobile devices) and central payment mainframes (like switches and gateways). Secondly, the strengthening of regulatory and oversight frameworks for ensuring the safety and soundness of these payment infrastructures which, like this, will enhance the trust and confidence of typical consumers on these alternate payment methods.

SHARE
Previous articleEasily Obtain Internet Banking Solution
Next articleXiaomi Mi Notebook Air Remarkable Facts

As a writer, I have been around the web for over ten years now, and I had understood its potential as a future market in the 90’s. Presently I see it where I had envisioned it to be. Throughout a previous couple of months, I have ventured into the universe of Technology and find if convincingly reasonable and anticipated. I discovered my enthusiasm for the tech field and liked to share it with the rest of the world.