KARACHI: The value of mobile phone banking transactions surged by 141 per cent to Rs11.9 trillion in FY22, according to the Annual Payment Systems Report released by the State Bank of Pakistan on Friday.
There were 15 million registered P2P (Person-to-Person) Raast users, carrying out 7.9 million transactions amounting to Rs102.1bn in value.
The report also mentions that the number of mobile phones and internet banking users reached 8.4m and 12.3m respectively during FY22.
In terms of transactions, mobile phone banking increased by 100.4pc to 387.5m, while internet banking grew by 51.7pc to 141.7m during the year.
The value of internet banking transactions grew 81.1pc to Rs10.2tr in 2021-22. E-commerce transactions also witnessed similar trends as the volume grew by 107.4pc to 45.5m and the value by 74.9pc to Rs106bn.
During FY22, a total of 32,958 POS machines were deployed which led to an expansion of its network by 45.8pc to 104,865. E-commerce merchants registered with the banks increased to 4,887 from 3,003 merchants during this period. ATMs network in the country also grew by 4.8pc during the year reaching 17,133 ATMs.
