2024財年年度支付系統(tǒng)審查報告 Annual Payment Systems Review – FY24

StateBankofPakistan

AnnualPaymentSystemsReview–FY24

(July01,2023toJune30,2024)

Internet

Banking

ATMs

POS

E-Commerce

QRPayments

e-Wallets

MobileAppBanking

PaymentSystemsReview

FortheFiscalYear2023-24

Contents

Contents

1

2

3

A

1ExecutiveSummary 5

PaymentSystemsSnapshot 8

Infographics 9

2PaymentSystemsReview 11

2.1PaymentsInfrastructure 11

2.2UsersofDigitalPaymentChannels 12

2.3PaymentsSummary 13

2.4E-CommerceinPakistan 15

3DevelopmentsinPaymentsSystemofPakistan 16

3.1DriveofDigitalizationviaRaastPlatform 16

3.2LicensingandApprovals 17

3.3Raast-BunaintegrationforCross-BorderpaymentsinArabRegion 17

3.4EnablementofdigitalpaymentsatCattleMarketsforEid-ul-Azha2024 18

3.5NotableInitiatives,ActivitiesandCollaborations 18

AnnexureA:AnnualPaymentSystemsData 21

TableA-1:PaymentSystemsInfrastructureandUsers 21

TableA-2:CompositionofPaymentCardsissuedbyBanks,MFBs,EMIs&BBs 22

TableA-3:LargeValueTransactions-PRISM(RTGS) 22

TableA-4:RetailValuePayments(Bank,MFBs,EMIs&BBs) 23

TableA-4a:ATMTransactions(Banks&MFBs) 23

TableA-4b:POSTransactions(Banks&MFBs) 24

TableA-4c:InternetBankingTransactions(Banks&MFBs) 24

TableA-4d:MobileBankingTransactions(Banks&MFBs) 25

TableA-4e:CallCenter/IVRBankingTransactions(Banks&MFBs) 25

TableA-4f:e-CommerceTransactions(Banks&MFBs) 26

TableA-4g:EMIWalletTransactions(EMIs) 26

TableA-4h:BranchlessBankingWalletTransactions(BBs) 27

TableA-4i:BranchlessBankingAgent-basedTransactions(BBs) 27

TableA-5:Paper-BasedTransactions(Banks,MFBs&EMIs) 28

TableA-6:RaastTransactions 28

TableA-7:Card-BasedTransactions(Banks,MFBs,EMIs&BBs) 29

Contents

B

AnnexureB:QuarterlyPaymentSystemsData 30

TableB-1:PaymentSystemsInfrastructure 30

TableB-2:CompositionofPaymentCardsissuedbyBanks,MFBs,EMIs&BBs 31

TableB-3:LargeValueTransactions-PRISM(RTGS) 31

TableB-4:RetailValuePayments-(Bank,MFBs&EMIs) 32

TableB-4a:ATMTransactions(Banks&MFBs) 32

TableB-4b:POSTransactions(Banks&MFBs) 33

TableB-4c:InternetBankingTransactions(Banks&MFBs) 33

TableB-4d:MobileBankingTransactions(Banks&MFBs) 34

TableB-4e:CallCenter/IVRBankingTransactions(Banks&MFBs) 34

TableB-4f:e-CommerceTransactions(Banks&MFBs) 35

TableB-4fg:EMI-WalletTransactions(EMIs) 35

TableB-4h:BranchlessBankingWalletTransactions(BBs) 36

TableB-4i:BranchlessBankingAgent-basedTransactions(BBs) 36

TableB-5:Paper-BasedTransactions(Banks,MFBs&EMIs) 37

TableB-6:RaastTransactions 37

TableB-7:Card-BasedTransactions(Banks,MFBs,EMIs&BBs) 38

Acronyms 39

1ExecutiveSummary

Thenationalpaymentecosystemhaswitnessedsignificantadvancementsduringpastfewyears.Thecontinuedgrowthofdigitalpaymentsisdrivenbytheincreasingaccessibilityandadoptionofdigitalpaymentchannels,reflectingastrongreliancebythecustomersondigitalpaymentsystems.NewandinnovativeproductsandservicesofferedbyElectronicMoneyInstitutions(EMIs)andBranchlessBanking(BB)playersisalsopavingthewayformoredigitalizedeconomy.TheintroductionofQRbasedpaymentsthroughRaastwillreducethecostofdigitalpaymentsatmerchantsandretailstores,andwillalsocontributeinincreasingtheshareofdigitalpayments.

TheStateBankofPakistan(SBP)publishesthisreporttounderscoresuchdevelopmentsandprovideacomprehensiveoverviewofthepaymentsinfrastructure,trendsofdigitalpayments,anduserengagement.Thereportoffersadetailedanalysisoftherobusthealthofthedigitalfinancialpaymentsystemsandhighlightstheprominentgrowthobservedoverthepastfiscalyear.

Notablehighlightsduringthefiscalyearontheperformanceofpaymentsystemsandtrendsinpaymentsaresummarizedbelow:

●RetailpaymentshaveexperiencedremarkablegrowthinFY24,withthe

volumeincreasingfrom4.7billionto6.4billion,andthevaluerisingfromPKR403.5trilliontoPKR546.6trillion,bothincreasingannuallybyapproximately35%.Further,shareofdigitalpaymentsinretailspacebyvolumehasincreasedto84%inFY24from76%inFY23.

●Theexpandingshareofdigitalpaymentsismainlyassociatedwiththeincreasingnumberofcustomersusingdigitalchannelsduetotheconvenienceandwiderangeofproducts/servicesofferedthroughthesechannels.Thisyear,usersofinternetbankingportalshaveincreasedby25%,mobileappbankingby16%,BranchlessBanking(BB)mobileappby2%andnotablycustomersofe-walletshaveincreasedphenomenallyby85%.

●Mobilebankingappsandinternetbankingportalshavebeeninstrumentalindrivingthegrowthofdigitalpaymentsbyofferingcustomersseamless,convenientaccesstoawiderangeofbankingservices24/7.DuringFY24,paymentsthroughthesechannelshavecollectivelyincreasedby62%to1,345.9millionwithvalueincreasingby74%toPKR69.8trillion.

●Likewise,digitalwalletsissuedbyBBsandEMIsalsoplayedanimportantroleinincreasingdigitalpayments.Duringthefiscalyear,customersmade2,697.0

5

ExecutiveSummary

millionpaymentsthroughtheirBBmobileappwalletsand85.2millionthroughEMIe-wallets,increasingfrom1,704.7millionand33.3millionduringFY23respectively.ThevalueofBBmobileappwalletstransactionsdoubledtoPKR8.8trillion,whilethevalueofe-wallettransactionsincreasedthreefoldtoPKR0.23trillion.

●ThenetworkofPOSmachineshasexpandedto125,593withanannualgrowthof8.9%,indicatinggreatersupportforcard-basedtransactionsatretailoutletsandstores.AsofFY23end,therewere85,386POSenabledmerchantsacrossthecountry.Thenetworkhasnowincreasedto98,936merchantsasofFY24endmarkingagrowthof16%inasingleyear.Throughthesemerchants,atotalof

271.4milliontransactionsofPKR1.5trilliontookplaceinFY24,a36%increaseinvolumeand41%byvalueincomparisontopreviousfiscalyear.

●E-commercepaymentsthroughwallets/accountsisgainingmomentumincontrasttocardbasedpayments.Around87%ofthedigitale-commercepaymentswereinitiatedthroughdigitalwallets/accountswhileonly13%werethroughpaymentcards.Collectively,atotalof308.9millione-commercepaymentsweremadeduringthefiscalyearwithvaluereachingtoPKR405.9billion.Lastfiscalyear,only78%ofthee-

6

commercepaymentsweremadefromdigitalwallets.

●TransactionsviaRTGSsawasignificantuptick,risingfrom4.9millionto5.8millioninvolumeandfromPKR640.4trilliontoPKR1,043.1trillioninvalueduringFY23.ThemajorcontributiontoRTGStransactionscamefromthesettlementofgovernmentsecurities,followedbyinter-bankfundtransfers,thirdpartycustomertransfersandancillaryclearingsettlement,respectively.

●Duringthesameperiod,atotalof496.1milliontransactionsamountingtoPKR

11.6trillionwereprocessedthroughRaast,whichisPakistan’sinstantpaymentsystem.LastyearinFY23,numberoftransactionsstoodat147.2millionwithvalueofPKR3.1trillion.

Inadditiontoincreasingtrendsinpaymentsecosystem,FY24alsomarksanimportantmilestoneintheareaofcross-borderpayments.SBPinpartnershipwithArabMonetaryFund(AMF)signedanMoUtoestablishaframeworkofcooperationbetweenRaast,Pakistan’sInstantPaymentSystemandBuna,thecross-borderpaymentsystemoperatedbyArabRegionalPaymentsClearingandSettlementOrganization,ownedbyArabMonetaryFund.

FiscalYear2023-24hasbeenaperiodofsteadyprogressforPakistan'spaymentecosystem,featuringconsistentgrowthindigitaltransactionsandagradualshift

towardamoredigitally-driveneconomy.Thecomprehensivedatapresentedinthisreportemphasizestherobustnessandresilienceof

ExecutiveSummary

thenation’spaymentinfrastructure,withdigitalchannelsbecomingthepreferredmodeoftransactions.

7

PaymentSystemsSnapshot

PaymentSystemsSnapshot

EndJun-23

EndJun-24P

Country’sPopulation(inmillion)1

241.5

241.5

CurrencyinCirculation(inPKRbillion)2

8,148.7

9,153.1

PaymentSystemsInfrastructure

Banks

33

33

MicrofinanceBanks–MFBs

11

12

PaymentSystemOperators/PaymentServiceProviders–PSOs/PSPs

5

5

ElectronicMoneyInstitutions–EMIs

4

5

BranchlessBankingServiceProviders–BBs

16

16

PRISMParticipants3

59

59

PaymentsNetwork

BranchesofBanks&MFBs

17,693

18,450

ATMs

17,808

18,957

CDMs/CCDMs4

520

579

Point-of-Sale(POS)Machines

115,288

125,593

POSenabledMerchants

85,386

98,936

RegisteredE-CommerceMerchants(Banks/MFBs)

6,889

7,816

BranchlessBankingAgents

630,033

662,084

DigitalPaymentChannelUsersandInstruments(inmillion)

InternetBankingUsers

9.612.0

MobileBankingUsers

16.1

18.7

CallCenter/IVRBankingUsers

37.6

40.9

BBMobileAppUsers

57.8

58.7

EMIs’E-Wallets

2.0

3.7

PaymentCards

49.9

54.5

FY23

VolumeValue

(million)(PKRtrillion)

FY24P

VolumeValue

(million)(PKRtrillion)

PaymentSystemsTransactions

Large-ValueTransactions

4.9

640.4

5.8

1,043.1

RetailPayments

ofwhich,through

4,730.1

403.5

6,387.8

546.5

DigitalChannels5

3,611.3

57.6

5,371.3

95.6

Over-the-Counter(OTC)6

1,118.8

345.9

1,016.5

450.9

1PopulationStatisticstakenfrom“PopulationandHousingCensus(2023)–TheDigitalCensus”availableat:

.pk/sites/default/files/population/2023/Pakistan.pdf

2LatestfiguretakenfromStateBankofPakistan’s“MonthlyStatisticalBulletin”availableat:

.pk/reports/stat_reviews/Bulletin/2024/Apr/Chap-2.pdf

3Thisincludes46Banks/MFBs(Islamicbankingwindowscountedseparately),9DFIs,and4Non-BanksorSpecialParticipants

4CDMs:CashDepositMachine|CCDMsCash&ChequeDepositMachine(somehavefacilityofwithdrawalinadditiontodeposit)

5IncludesDigitalTransactionscarriedoutatATMs/CDMs/CCDMs,POSterminals,E-CommercePlatformsorinitiatedonlinevia

BankAccount/Digitalwallets.AllthesetransactionsareprocessedthroughdigitalchannelsprovidedbyBanks,MFBs,BBs&EMIs

6IncludesOver-the-counter(OTC)transactionscarriedoutatBankBranchesandBranchlessBankingAgentsNote:PaymentSystemsDataSeriesisavailablefordownloadat:

.pk

R:Revised|P:Provisional

8

PaymentSystemsInfographics–FY24

Value

PKR546.5

trillion

Volume

6,387.8

million

POS:Point-of-SaleMachines|IB:Internetbanking|MB:MobileBankingApps|BB:BranchlessBanking|OTC:Over-the-Counter

59million

BBMobileApp

19million

MobileAppBanking

TransactionsVolume(↑70%)

TransactionsValue(↑95%)

12million

InternetBanking

3.7million

EMI’sE-Wallet

TransactionsVolume(↑58%)

TransactionsValue(↑119%)

TransactionsVolume(↑30%)

TransactionsValue(↑44%)

TransactionsVolume(↑156%)

TransactionsValue(↑215%)

Note:PercentagesabovereferstoYear-on-Year(YoY)GrowthinVolumeandValueofTransactions

<0.1millionPrepaidCards

18,957ATMs

932mntxnsofPKR15,018billion

Wallet/Accountbasede-commerce

125,593POS

*Thesearenotuniquee-merchantsandmayoverlapinsomecasesasamerchantmaybeenabledwithbothoptions(cardandwallet/account)bytheacquiringpartner.

7,953Wallet/AccountbasedE-Merchants*

7,816Card-basedE-Merchants*

4.0millionSocialWelfare

271mntxnsofPKR1,502billion

269mntxnsofPKR212billion

40mntxnsofPKR194billion

2.0millionCreditCards

48.3millionDebitCards

Card-basede-commerce

PaymentCards

54.5

million

PRISM(RTGS)Transactions

RaastTransactions

37.5mnRaastIDs

Break-upofRetailPayments

byvolumeduringFY24

6,388mn

RetailPayments duringFY24

DigitalPayments

5,371mn

DigitalPayments(excl.viaATMs)

4,440mn

TrxnsviaATMs

OTCPayments

1,017mn

271mnatPOS

223mnviaInternetBankingPortals

1,123mnviaMobileBankingApps

40mnCNPe-Commerce

85mnviae-Wallets

2,697mnviaBB

MobileBankingApps

932mnatATMs

445mnatBBAgents

571mnatBankBranches

Break-upofRetailPayments

byvalueduringFY24

DigitalPayments(excl.viaATMs)

PKR81tn

TrxnsviaATMs

DigitalPayments

PKR96tn

PKR547tn

RetailPayments duringFY24

OTCPayments

PKR451tn

PKR1.5tnatPOS

PKR23tnviaInternetBankingPortal

PKR46tnviaMobileBankingApps

PKR0.2tnCNPe-Commerce

PKR0.2tnviae-WalletsPKR8.8tnviaBB

MobileBankingApps

PKR15tnatATMs

PKR3.3tnatBBAgents

PKR448tnatBankBranches

2

PaymentSystemsReview

Paymentsysteminfrastructureplaysakeyroleinacountry’seconomyasitenablesefficientandsecurefundtransfersbetweenindividuals,businesses,governmentandfinancialinstitutions.Toshedlightonthenationalpaymentsecosystem,theStateBankofPakistan(SBP)publishesPaymentSystemsReviewonquarterlyandannualbasis.Thereporteddataiscollectedfromtheregulatedentitiesincludingbanks,MFBs,EMIs,PSOs,PSPs,RaastsystemandRTGSsystem.Thedataissubsequentlyprocessed,analyzedandsummarizedtopresentameaningfulpictureofdigitalfinanciallandscapeforthereaders.

2.1.PaymentsInfrastructure

Paymentsinfrastructurereferstothesystems,applications,technologies,andnetworksthatfacilitatethetransferofmoneyamongindividuals,businesses,andthegovernments.Itincludeseverythingfrompaymentcardprocessingnetworks,digitalpaymentplatformstobrickandmortarbanksandmobilepaymentsolutions.Arobustpaymentsinfrastructureisessentialforanacceleratedfinancialinclusionandeconomicdevelopment.

TheadvancementsinpaymentsinfrastructurefromFY23toFY24reflectsignificantgrowthacrossvariouspaymentsystemareasinthecountry.Theusageofpaymentcardsforpurchasesatretailstores,merchantsandonlineplatformsissteadilyincreasing,withanoticeableriseinbothtransactionvolumesandmerchantadoptiononyearlybasis.Thenetworkofin-storePoint-of-Sales(POS)machineshasexpandedto125,593,showingagrowthof9%overtheyear.Similarly,POSenabledmerchantshas

increasedto98,936merchantsmarkinganannualgrowthof16%.Moreover,averagenumberoftransactionsatPOSenabledmerchanthasincreasedby18%to2,744transactions/merchant.Thisbehaviorindicatesnotonlyincreasedconsumerpreferencesforcard-basedtransactionsforday-to-daypurchasesbutalsomerchantsareenablingmorePOSdevicestoincreasetheirbusinesses.Thesimilartrendisalsowitnessedine-commercepurchasesusingpaymentcardsasthenumberofe-commercemerchantsincreasedby12%to7,816.Likewise,purchasesthroughpaymentcardsatasinglee-merchantstandsatanaverageof5,106transactions/e-merchantanincreaseof11%highlightingaconsistentdemandforonlinecardbasedpurchases.

Inadditiontothemerchantsacceptingcards,around516,317micro-merchantsareon-boardedwithfivemajorbranchlessbanking(BB)providers.Thesemicro-merchantscanacceptpaymentsthroughQRcodesanddigitalwallets,offeringacost-effectivealternativetotraditionalPOSterminals.ThisoptionisespeciallybeneficialforsmallbusinessesandKiryanastores,enablingthemtoembracedigitalpaymentswithoutpayingusuallyhighercostsassociatedwithcard-basedinfrastructure.

Furthermore,networkofBranchlessBanking(BB)agentsexpandedto662,084,providingfinancialservicestounderservedandunbankedregions.Theseagentsprovidearangeofessentialpaymentservices,includingbill/governmentpayments,fundstransfers,cashcollection/paymentservicesetc.ThegrowingnetworkofBBagentsnotonlyincreasesaccesstofinancialservicesbut

11

PaymentSystemsReview

alsoplaysacrucialroleinpromotingfinancialinclusionbybridgingthegapforthosewithoutaccesstotraditionalbankinginfrastructure.

Cardholderscanavailcashwithdrawal,fundtransfers,billpaymentsandotherbankingservicesusingATMs.Duringthefiscalyear,numberofATMshasincreasedto18,957,anannualgrowthof6%.Cashandchequedepositmachines(CDMs/CCDMs)alsoincreasedto579machines,enhancingdepositconvenienceforcustomersroundtheclock.

2.2.UsersofDigitalPaymentChannels

Digitalpaymentchannelsmainlyincludedmobileappbanking,internetbanking,digitalwallet,andpaymentcardsarethecornerstonesofthepaymentsystemlandscape.Thecustomersleveragetheconvenience,agility,andsecurityofdigitalplatformsfortransferringfunds,payingbills,makingonlinepaymentsandpayingforin-storepurchases.Theriseinadoptionofpaymentsthroughdigitalchannelsisdrivenbythegrowingpreferenceforcashlesstransactions,theubiquityofsmartphones,andincreasinginternetpenetration.

AsofJune2024,mobilebankingappshasregistered18.7millionusers,whileinternet-bankingportalshas12.0millionregisteredusersofbanksandMFBs.ThewidespreaduseofBBwallets,with58.7millionusersofBBMobileAppwalletshighlightsthegrowingrelianceondigitalplatformsforpayments,particularlyinlocationswithlimitedaccesstothetraditionalbankingservices.Additionally,3.7millione-walletusersofEMIs,comparedto2.0millionusersinthelastyeardepictthatdigitalwalletindustryisflourishingmainlyduetotheinnovativefinancialproductsandservicesbythesee-moneyinstitutionslikerequestto

12

pay,bill-split,integrationoftheirmobileappwithonlineportalofmajorgovernmentinstitutionsandinwardremittanceservicesetc.Intermsofyear-on-year(YoY)growth,internetbankingusershavegrownby25%,mobileappbankingusersby16%whilemobileappbasedBBwalletusershaveincreasedby2%andusersofe-walletshaveincreasedbymorethan85%duringFY24.Thistrendindicatesgreaterconsumerpreferenceforthesimplicity,convenience,accessibility,andefficiencyofdigitalplatformsovertraditionalbankingmethods.

NumberofUsersofDigitalPaymentChannels

Thepresenceof54.5millionpaymentcardsreflectscustomers'relianceonconvenienceandsecurityofferedbythesecards.ThenumberofpaymentcardshaswitnessedaYoYgrowthof9.1%thisyear.Ofthesecards,88.7%aredebitcards,7.3%aresocialwelfarecards,3.8%arecreditcards,andlessthan1%areprepaidcards.

ShareofPaymentSchemes

Intermsofcardsbypaymentschemes,majority(73.1%)ofthecardsarebackedbyinternationalpaymentschemes,while16.6%areissuedbydomesticpaymentschemeandtheremainingareeitherlocalproprietary(6.1%)orco-badged(4.3%).Duringtheyear,morethan5.5millionsocialschemewelfarecardswerereplacedwithbiometricverificationfacilitythuseliminatingtheneedofthesecardsforcashwithdrawal.

2.3.PaymentsSummary

Paymentscanbeclassifiedintotwodistinguishedcategories,oneiswholesalepayments,whichareservedthroughRTGSsystem(PRISM),whilethelargevolumeandrelativelysmallervaluepaymentsareclassifiedasretailpayments,whicharemainlyprocessedbythebanks,MFBs,EMIs,BBsand,PSOs/PSPs.

FromFY23toFY24,transactionsviaRTGSsawasignificantuptick,risingfrom4.9millionto5.8millioninvolumeandfromPKR640.4trilliontoPKR1,043.1trillionbyvalue.ThissurgereflectstheconsistentrelianceonRTGSforlarge-valuesettlements,underscoringitsvitalroleinmaintainingtheefficiencyandstabilityofhigh-valuefinancialtransactions.Retailpaymentsalsoexperiencedremarkablegrowth,withthevolumeincreasingfrom4,730.1millionto6,387.8million,andthevaluerisingfromPKR403.5trilliontoPKR546.6trillion,bothincreasingannuallyby35%.

Theshareofdigitalpaymentsintotalretailpaymentsrosefrom76%inFY23toanimpressive84%inFY24,drivenlargelybytheriseinBBwallettransactionsandmobilebankingapp-basedtransactions.ATM-basedtransactionsalsocontributedtothisgrowth,reflectingabroadertrendtowardsdigitalizationintheretailpaymentsspace.

PaymentSystemsReview

2.3.1.RTGSTransactions

PRISM(PakistanReal-timeInterbankSettlementMechanism)isPakistan’sRTGSsystem,designedforsettlementoflarge-valuepayments.Itallowsinstantaneoustransferoffunds,settlementofgovernmentsecurities,andancillaryclearingonareal-timeandgrossbasis,ensuringthattransactionsaresmooth,efficientandirrevocable.ItalsoreducessettlementriskinsecuritiesrelatedtransactionsonthebasisofDelivery-Versus-Payment(DVP)model.DVPisasecuritiessettlementprocessthatrequiresthatpaymentismadeeitherbeforeoratthesametimeasthedeliveryofthesecurities.Furthermore,SBPprovidesIntra-dayLiquidityFacility(ILF)tothePRISMparticipantsthatisfullycollateralizedagainstgovernmentsecurities,sothatthepaymentsareclearedwithoutanydeadlock.

Break-upofRTGSTransactionsbyValue

AsperthedataofFY24,70%ofthetransactionsbyvalueweregovernmentsecuritysettlements,while28%wereinter-bankandthirdpartycustomerfundtransfers,andonly2%wereancillaryclearingsettlements.LastyearinFY23,thesepercentageswere61%,35%and4%respectively.

2.3.2.RetailPayments

Retailpaymentscatertoeverydayconsumertransactions,encompassingawidearrayofpaymentmethodssuchasmobilepayments,

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cardbasedpayments,e-commercepaymentsandonlinebankingtransfers.Thesesystemsfacilitatethesmoothexchangeofgoodsandservices,enhancingtheconvenienceandefficiencyofday-to-daycommerce.

Thegraphaboveshowsthatoverthelastfiveyears(FY20toFY24),therehasbeenasignificantshifttowardsdigitalpayments.InFY20,digitalpaymentsaccountedfor55%ofretailpaymentsbyvolume,afigurethathasnowsurgedto84%.Whiletheshareofdigitalpaymentsbyvaluecurrentlystandsat17%,it'simportanttonotethatthissharewas6%inFY20.Thisrapidgrowthunderscorestheacceleratingadoptionofdigitalpaymentmethods,reflectingchangingconsumerpreferencesandtheincreasingintegrationoftechnologyintoeverydayfinancialtransactions.Mobile-Appbasedandinternetbankinghasplayedkeyroleintheriseofdigitalpayments.Inlasttwoyears,averageannualgrowthrateofmobilebankinghasremainedaround70%whileinternetbankingaround26%.

DuringFY24,customersexecuted931.6milliontransactionsatATMs,amountingtoPKR15,017.9billion,predominantlyforcashwithdrawals.AverageticketsizeofcashwithdrawalatATMwasPKR15,011/trxnduringFY23whichhasnowincreasedtoPKR16,121/trxnduringFY24.ThePOS

acquiringinstitutions,withtheir98,936registeredmerchants,processed271.4million(↑36%)transactionsamountingtoPKR1,502.4billion(↑41%)overtheyear,highlightingthegrowinguseofpaymentcards.BifurcationofPOStransactionsrevealedthataround95%ofthemwereofdomesticallyissuedcardswhiletheremaining5%wereofforeignissuedcards.Cardbasede-commercetransactionsalsoshowedconsistentgrowthreaching39.9milliontransactions(↑26%)amountingtoPKR194.3billion(↑37%)duringFY24ascomparedtoFY23.Around85%ofthetransactionsweremadethroughdomesticallyissuedcardswhile15%viaforeignissuedcards.Similarly,ofallthecardsissueddomestically,95%ofthemwereusedonPOSmachineswithinthecountrywhileonly5%ofthetransactionswereonPOSmachineinforeigncountry.

Internetbankingandmobilebankingcontinuedtheirpopularityamongtheconsumers.Internetbankinghad223.1milliontransactions,withavalueofPKR23,485.6billion,whileMobilebankingtransactionsreached1,122.8million,valuedatPKR46,344.3billion.Additionally,EMIwallettransactionsreached85.2million,amountingtoPKR226.4billion,whilebranchlessbanking(BB)walletsaccounted

PaymentSystemsReview

OTCPaymentsDigitalPayments

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for2,697.0milliontransactions,valuedatPKR8,848.4billion.BBagentsalsoplayedasignificantrole,with662,084BBagentsfacilitated445.3milliontransactionsworthPKR3,254.1billionduringFY24.Althoughrelativelylesserinvolume,traditionalbankbranchesprocessed571.2milliontransactions,withastaggeringvalueofPKR447,674.9billion,reflectingthecontinuedimportanceofphysicalbankingforhighvaluefinancialtransfers.

2.4.E-CommerceinPakistan

InPakistan,e-commercelandscapeisfacilitatedbyfivecommercialbanks,fiveBranchlessBanking(BB)playersandtwoPSOs/PSPsprovidingsupporttoonlinemerchantstoacceptpaymentthroughcardsordigitalwallets/accounts.

Summaryofoveralle-commercepaymentsisprovidedbelow:

(VolumeinMillion&ValueinPKRBillion)

Thee-commercetransactionsaregrowingata