Mobile banking transactions in Pakistan increased significantly, reaching Rs. 15 billion in fiscal year 2022-23, up from Rs. 2.7 billion in 2021-22 and Rs. 2.2 billion in 2020-21.
This expansion indicates a significant increase in transaction value, which reached Rs. 15,466 billion in the same time, up from Rs. 10,637 billion and Rs. 8,086 billion in the previous years.
According to a PTA document, mobile wallet accounts in Pakistan have grown rapidly, reaching 107 million in 2023, up from 89 million in 2022, 75 million in 2021, and 53 million in 2020.
This significant increase reflects the Pakistani population’s rising desire for digital financial services, which promotes greater financial inclusion and convenience.
In addition, the number of mobile wallet agents in Pakistan has steadily increased, with an expected total of 630,033 by 2023.
While there was a modest dip from 637,231 agents in 2022 to 534,460 agents in 2021, the overall trend remains good, with constant growth over time.
In both 2020 and 2019, there were 445,181 and 421,053 mobile wallet agents, respectively.
These figures highlight Pakistan’s increasing adoption of mobile banking and digital payment systems, which is being driven by technological improvements and efforts to promote financial inclusion.
As mobile banking gains popularity, it is projected to play a significant role in altering the country’s financial landscape by providing more accessibility and efficiency to both consumers and companies.
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