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Electronic Payments Increased in Pakistan

A rising trend in Electronic payments has been seen during the first quarter of the fiscal year 2010. This increase contains transactions as well as the value.

State Bank of Pakistan reported that the volume of E-transactions reached 45.7 million and the volume was recorded at 3.9 trillion rupees. A whopping 2.7 percent increase in volume and 0.3 percent increase in value which added to previous 11.1 and 7.8 in volume and value respectively.

ePayment


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Payments by electronic means showed constant growth in the first quart of New Year. Total electronic transaction went up to 35.5 percent in number from previous 34.2 and 10.13 from 10.05 percent in value.

A decrease in ATM withdrawal during the current fiscal year is recorded and people withdrew 210 billion rupees from ATMs. On the other hand number of ATM installments reached 4,217 with an increase of 4 percent.

Online banking transactions declined 4.6 percent and 7.4 in volume and Value respectively. Online banking transactions are recorded at 3.6 trillion in value and 13.0 million in volume.

A decline in credit card transactions has also been recorded. 7.1 percent decrease in volume followed by 2.7 in value.

However, 6.1 percent volume and 13.87 percent value increase respectively has been noticed in Debit Card transactions.

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3 Responses to "Electronic Payments Increased in Pakistan"

  1. Nimra Qudoos says:

    Its interesting to see Debit Card trend level setting higher in Pakistan although Credit Card considered way better than DC! Guess Pakistani People feels more comfortable to use their money instead to do credit

  2. Jijo Sunny says:

    That really sounds cool!
    I saw some new Pak Guys Spending a lot of Money online for making up with innovative Business Ideas.

    Like Indians, They are awesome Tricky ;)

  3. Tasadduq says:

    Yes, it is good to see Pakistani people leaning towards E-payments.

    One of the main reason for non-credit card payments is that getting a credit card is very tough and banks ask for lots of verification. People tend to avoid that.

    Majority of people are concerned about Interest which is haram.

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