According to the State Bank of Pakistan’s second quarterly report the usage of electronic payment system has increased at a very fast rate. In second quarter about 172 automated teller machines (ATMs) are added and the total number of ATMs has reached to the record level of 4,374.
The report also depicts that 309 bank branches have been converted to the Real Time Online Branches; the total number of online branches in Pakistan has become 9,843. Similarly, the number of plastic cards ATM, Debit and Credit Cards increased by 19.21% as compared to the previous quarter. There are about 15.72 million plastic cards are in circulation.
According to the report, the overall volume and value of e-banking transactions in the country has reached to the level of 56 million and Rs 5.5 trillion respectively, showing an increase of7.30 percent in volume and 17.47 percent in value compared to previous quarter.
ATM has remained one of the largest medium of e-banking. The e-banking transactions, showed 5.6% increase in number of transactions and 9.5% increase in value. A significant increase in transactions is also recorded in real banking online branches as thenumber and value of such transactions grow by 10 percent and 17.5 percent respectively.