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Pakistan's Mobile Banking Accounts Passed 1.8 Million Mark at end of Q3

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The number of mobile banking accounts in Pakistan stood at 1.8 million at the end of September, according to a report from the State Bank.

In addition the level of activity has also increased with 66% of accounts still active at the end of September, a rise of 30% during the previous three months.

Citing the bank report, Pro Pakistani write that more than 31.4 million transactions worth of Rs. 139 billion were carried out by mobile banking channels in the three months to the end of September.

The average size of transaction was Rs 4,420 during Jul - Sep 2012, while the average number of transaction per day increased to 349,411 from 315,178 during the quarter.

Paying bills and topping up accounts remained the dominant use for mobile banking services, with person-to-person transfers and cash withdrawals making up the remainder.

On the web: Pro Pakistani

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Tags: mobile banking  Pakistan