Mobile banking accounts have jumped to 1.8 million mark, depicting a remarkable growth of 25 percent during July-September quarter of 2012, according to Branchless Banking Newsletter released by the State Bank of Pakistan (SBP) on Wednesday.
Branchless Banking (BB) customers conducted almost 31.5 million transactions worth Rs 139 billion during the quarter. The average size of each transaction was Rs 4,420, while the average number of transaction per day increased to 0.349 million. The accounts' activity level has also improved considerably during the quarter at the back of significant growth of 84 percent in Level '0' accounts and 7 percent growth in Level '1' accounts.
These accounts are opened at the agents' location largely by those who have traditionally been excluded from the banking services. The agents' network has reached to 31,637 as of September 30, 2012 from 29,525 as on 30th June, 2012 registering an increase of 7 percent. It may be pointed out that transaction limits for Level '0' & Level '1' accounts are Rs 15,000 & Rs 25,000 per day, respectively.
Bills payments & mobile top-ups remained the dominating activity during July-September 2012 quarter with 45 percent share in total numbers, followed by person to person (over the counter) fund transfers with a share of 38 percent. Bulk payments mostly by agents topped, among others, by 41 percent share in total value transacted during the quarter followed by person to person fund transfers with a share of 34 percent. -PR
Comments
Comments are closed.