Branchless Banking Transactions surpass 1 billion in Single Quarter in Pakistan
Pakistan’s branchless banking had an impressive quarter as transactions crossed 1 billion mark for the first time in history.
Data shared by State Bank of Pakistan (SBP) shows that 22 percent of transactions are for bill payments and mobile top-ups, while an impressive 43 percent are for fund transfers.
Banks and Microfinance Banks saw 1,088.3 million branchless banking transactions worth over Rs5billion in the quarter ending on December 31, 2023, showing a year-on-year growth of 12 percent in volume and 12.5 percent in value.
