KARACHI: The State Bank of Pakistan, Monday, released its Quarterly Payment System Review (QPSR) for the third quarter of fiscal year 2020-21, which showed that value of mobile banking, internet banking and e-commerce transactions, all, more than doubled. The QSPR for January-March 2021 depicts strong growth in the space of digital financial transactions in the country while the numbers of internet and mobile banking users have also been increasing significantly, up 30.5 percent and 20.3 percent respectively during Q3FY21 over the same period last year. During Q3FY21, bank customers performed 309.5 million e-Banking transactions, valuing Rs22.5 trillion and registering growth rates of 31 percent by volume and 29 percent by value over the same quarter last year, the report said adding that most of the uptake in e-banking transactions was seen in internet banking and mobile banking transactions. The report further indicated that the volume of mobile banking transactions reached 51.7 million, (up 144 percent) valuing Rs1.3 trillion up 178 percent compared to 21.2 million transactions valuing 467.5 billion in the same quarter, last year. The number of registered mobile phone banking users reached 9.8 million showing an increase of 20% from the same period last year. Similarly, 24.5 million internet banking transactions valuing Rs 1.5 trillion were recorded during this period compared to Rs 0.75 trillion in the same quarter last year, registering a growth of 74% by volume and 109% by value, it said.
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