Electronic Banking transactions jump 19% to Rs 12 trillion in FY11 2nd half

KARACHI: The value of e-Banking transactions aggregated to Rs 12 trillion during second half of FY11 showing an increase of 19.0% as compared to first half of the year, says State Bank of Pakistan’s Payment Systems Half Yearly Review released Wednesday. Volume of such transactions during period under review reached 125.9 million depicting increase of 15.5% as compared to first half of FY11, it said, adding that payment system infrastructure in Pakistan has maintained overall growth trend for second half of FY11.

Automated Teller Machines (ATMs), which are largest channel of e-Banking transactions, showed 16.5% increase in number of transactions and 19.0% increase in value raising share of ATM transactions in total e-Banking transactions to 58.8% % 5.4% respectively, Review said. The number of Real-Time Online Branches (RTOB) transactions grew by 14.7% and value of transactions increased by 18.8% as compared to first half of FY11. These transactions contributed 31.6% in total volume of e-Banking & 93.2%t in value of such transactions respectively.

As many as 466 more ATMs were added in system bringing total number of ATMs in the country to 5,200 while 380 more bank branches were converted into RTOBs. A total of 7,416 bank branches (78%) are now offering real time online banking out of a total of 9,541 branches. Number of plastic cards at 14 million also registered increase of 6.2% during period under review as compared to numbers during preceding half year.

Review said total number of POS terminals at 37,232 depicted decline of 16% as compared to 44,383 terminals in first half of FY11 due to business considerations in terms of which investment in ATMs was considered a more viable strategic option. The volume of POS transactions in the country during second half of FY11, however, reached 7.2 million showing 2.8% increase. Value of POS transactions at Rs. 33.9 billion registered 4.4% decrease as compared to first half of FY11.

Overall increasing trend in payment system infrastructure was also witnessed in large value payments settled through Pakistan Real-time Interbank Settlement Mechanism (PRISM), which increased by 14.8% in volume & 21.9% in terms of value as compared to first half of FY11. Major portion of PRISM transactions, in terms of value was of settlements against securities which accounted for 46% of total transactions followed by Interbank Funds Transfers at 37% and settlement of retail cheques through multilateral clearing at 15%.

Review said volume and value of paper-based retail payments in second half of FY11 were recorded as 177.3 million & Rs. 84.6 trillion respectively indicating 3.5% increase in volume of transactions. Value of transactions increased by 13.3% as compared to first half of FY11. Contribution of paper-based payments in total retail payment transactions was 58.5% in terms of volume & 87.5% in terms of value.

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