Pakistan’s Digital Revolution: Mobile Banking and E-commerce on the Rise
ISLAMABAD ( Web News )
Pakistan is quickly becoming a digital powerhouse, with a staggering 148% increase in mobile banking accounts recorded over the past three years. This shift towards digital banking is being driven by a number of factors, including the increasing availability of internet and mobile phone access, as well as a growing awareness among customers of the convenience and security offered by digital banking services. According to a report by the Pakistan Telecommunication Authority (PTA), the number of mobile banking accounts in the country has soared to 8.85 million, while online banking transactions have risen by 32% during the 2021 fiscal year. Not just banking, but e-commerce retailers in the country has also seen a 76% increase, reaching a total of 4,445. With more and more people turning to digital payments, it’s clear that Pakistan is on the path to becoming a fully-fledged digital economy. And as the world continues to move towards a cashless society, Pakistan is positioning itself at the forefront of this trend.