PRISM witnesses settlement of Rs 35tr in Oct-Dec 2013


KARACHI: Pakistan Real-Time Interbank Settlement Mechanism (PRISM), the Large Value Payment System of the country processed 141,667 payments worth over Rs 35 trillion. 
This showed an increase of 8.2 percent and 15 percent in volume and value respectively in second quarter of 2013-14 compared to the previous quarter.
 The State Bank of Pakistan released the Payment Systems Review for the quarter ended October-December 2013 showing the volume of e-Banking transactions in Pakistan has grown considerably over the years.
 During the quarter October-December 2013, the volume and value of overall e-Banking transactions grew by 5.1 percent and 8.7 percent respectively to the last quarter and by 22.7 percent and 10 percent when compared to the same period of the last year.
 In the composition of total e-Banking transactions, ATM has the highest share of 63.3 percent in volume and 7.6 percent share in value of transactions. Real Time Online Banking (RTOB) has the highest share of 89.9 percent in value with 25.2 percent share in volume of transactions. The remaining portion of transactions in terms of volume is captured by Point of Sale (PoS) (5.9%), Internet (4%), Call Centre (0.2%) and Mobile Banking (1.5%) respectively.
The number of transactions through ATMs reached over 61.7 million in the second quarter of FY13-14. The number of ATMs in the country has reached 7,684 for the quarter ended December 2013, showing an increase of 10.2 percent from previous quarter. As on December 31, 2013 for every 100,000 people, there are 4.2 ATMs in the country and during that same period, Rs 635 billion was transacted using this channel. 
The number of online branches is 10,596, which accounts for around 95 percent of the total bank branches in the country, around 24.5 million transactions amounting to Rs 7.48 trillion were performed via this channel during October-December of FY13-14. As on December 31, 2013, there was around 18.3 PoS machines for every 100,000 people in the country. 
The fastest growing payment channel in the country is mobile banking in which the number of transactions increased by 170.7 percent compared with that in the same period last year. Presently, there are around 1.5 million registered users of mobile banking in the country. 
Further, as on end December 2013, 24 banks were offering Internet Banking services that constitute a volume share of 4 percent of total e-Banking transactions. 
During the quarter under review, 1.37 million registered users on Internet banking conducted 3.9 million transactions amounting to over Rs 161 billion. This showed a growth of 5.7 percent in volume and 2.7 percent in value of transactions compared to the previous quarter. 
The number of Plastic Cards (Debit, Credit and ATM Only Cards) reached 22.38 million showing a decline of 4.2 percent compared with that in the previous quarter. The credit cards showed a significant drop of 11.4 percent compared to the last quarter. In contribution of Plastic Cards, Debit cards have the highest share of 89.6 percent.

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