News Karnataka
Sunday, December 03 2023

E-banking in Pakistan continues steady growth

Islamabad: 'Pakistan's current account deficit shrinks 90% in Jan'
Photo Credit : IANS

Islamabad: The State Bank of Pakistan (SBP) said the country’s e-banking sector kept on showing a steady growth trend in the third quarter of the current fiscal year.

The Pakistani central bank’s payment system review, covering January-March 2022, “presents an overall viewpoint of growing digital adoption in the country as SBP continues to promote robust and efficient payments ecosystem in the country”, Xinhua news agency quoted the SBP as saying in a report.

The report said that customers’ inclination towards the use of e-banking continued to rise as shown in both volume and value of transactions.

Total e-banking transactions witnessed a growth of 2.6 per cent in volume and 6.5 per cent in value on a quarter-on-quarter basis, the SBP said.

The e-banking involves transactions conducted via electronic channels including real-time online branches, ATMs, mobile banking, Internet banking, call center banking, POS (point-of-sale), and e-commerce.

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