pragmatic888|Digital payment sees continuous progress in Pakistan: central bank
ISLAMABADpragmatic888, July 20 (Xinhua) -- Pakistan's payment system has been witnessing continuous and significant progress in the adoption of digital payment channels as the digital user base showed remarkable average growth of 8 percent in the third quarter of last fiscal year from July 2023 to June 2024pragmatic888.
It reached 59 million branchless banking mobile application users, 17 million mobile banking application users, 11 million internet banking users, and 3 million electronic money institutions (EMIs) e-wallet users at the close of the quarter, the State Bank of Pakistan said Friday in its quarterly payment systems report for the third quarter (Jan-March 2024) of the previous fiscal year.
The digital transactions were 83 percent of total retail payments for the quarter, processed by banks and EMIs whereas 17 percent of transactions were conducted over-the-counter at bank branches, according to the report.
Collectively, banks and EMIs processed 844 million retail payments, according to the report.
This included 47 percent funds transfer transactions, 33 percent cash withdrawals, 11 percent POS (point-of-sale) and e-commerce purchases, 6 percent bill payments and mobile top-ups, and the remaining transactions comprised deposits, tax payments, invoice-based payments, and donations, it added.■
Tags:
Recommendations
- crashteamracingnitrofueledyuzu|Sudan dam collapse leaves at least 60 dead, hundreds missing
- onlinecasinowithfreesignupbonusrealmoney|Jordan launches initiative to support amputees in Gaza
- reelpennbattle35000|Feature: Bringing centuries-old tea experience to modern Taipei
- othercryptogames|Across China: Guarding greenery on northeast China's Changbai Mountain
- playslotsforrealmoneynodeposit|Villagers dry agricultural products in county of Yichun, E China
- casinoswithfreeplayfornewmembers|China's Gansu launches support policies for signature beef noodles industry
- firstpersonroulette|Aerial view of Harbin, China's "Ice City"
- pennpursuitthree|Across China: Wetland tourism heats up in China's "ice city"
- crashland|Explainer: China pilots housing pension system to enhance people's living quality
- xplaybetcasinonodepositbonus|Senior CPC official meets Cambodian deputy PM