The overall increasing trend in payment system infrastructure was also witnessed in the large value payments settled through Pakistan Real-time Inter-bank Settlement Mechanism (PRISM), which increased by 14.8 per cent in volume and 21.9 per cent in terms of value as compared to the first half of FY11. - File photo

 

KARACHI: The State Bank said on Wednesday that the value of e-banking transactions aggregated to Rs12 trillion during the second half of 2010-11, showing an increase of 19 per cent as compared to the first half of the year.

The Payment Systems Half Yearly Review released by the State Bank here noted speedy rise in e-banking transactions in the country.

The volume of such transactions during the period under review reached 125.9 million depicting an increase of 15.5 per cent as compared to the first half of FY11, the review said, adding that the payment system infrastructure has maintained an overall growth trend for the second half of FY11.

However, the review also said that the volume and value of paper-based retail payments during the second half of FY11 were recorded as 177.3 million and Rs84.6 trillion respectively, indicating an increase of 3.5 per cent in the volume of transactions.

“The value of transactions has increased by 13.3 per cent as compared to the first half of FY11. The contribution of paper-based payments in total retail payment transactions was 58.5 per cent in terms of volume and 87.5 per cent in terms of value,” it added.

The review said the Automated Teller Machines (ATMs), which are the largest channel of e-banking transactions, showed 16.5 per cent increase in number of transactions and 19 per cent increase in value raising the share of ATM transactions in total e-banking transactions to 58.8 per cent and 5.4 per cent respectively, the review said.

It said the number of Real-Time Online Branches (RTOB) transactions grew by 14.7 per cent and the value of transactions increased by 18.8 per cent as compared to first half of FY11. “These transactions contributed 31.6 per cent in total volume of e-banking and 93.2 per cent in the value of such transactions respectively,” the review observed.

According to the review, as many as 466 more Automated Teller Machines were added bringing the total number of ATMs to 5,200 while 380 more bank branches were converted into Real Time Online Branches (RTOBs).

“A total of 7,416 bank branches (78 per cent) are now offering real time online banking out of a total of 9,541 branches in the country. The number of plastic cards at 14 million also registered an increase of 6.2 per cent during the period under review as compared to the numbers during the preceding half year,” the Review added.

The overall increasing trend in payment system infrastructure was also witnessed in the large value payments settled through Pakistan Real-time Inter-bank Settlement Mechanism (PRISM), which increased by 14.8 per cent in volume and 21.9 per cent in terms of value as compared to the first half of FY11.

Opinion

Editorial

Shared goals
Updated 16 Aug, 2022

Shared goals

It is high time that all parties realise that negotiation on the economy does not need to be held hostage to political rivalries.
Making amends?
16 Aug, 2022

Making amends?

WHERE relations with the US are concerned, there has been a distinct shift in Imran Khan’s tone. While the PTI...
Hazardous celebration
16 Aug, 2022

Hazardous celebration

CAN celebratory actions that often result in death or lifelong injuries really be described as such? Be it Eid, New...
Taliban anniversary
15 Aug, 2022

Taliban anniversary

A YEAR ago on this day, the Afghan Taliban rolled into Kabul as the Western-backed government fell like a house of...
Extreme measures
Updated 15 Aug, 2022

Extreme measures

Government has overreacted to a degree that has given ammunition to the PTI to accuse it of ‘fascism’.
A depraved society
15 Aug, 2022

A depraved society

IF the extent of sexual violence against women and children is any measure of a society’s moral degradation, then ...