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Scope of Mobile Banking in Pakistan

With the arrival of 3G and 4G mobile technology in Pakistan, banking transactions through cell phones have become a very common mode of payment in the country. 3G/4G has elevated mobile banking transactions up by 5% to Rs. 26 billion in the second quarter of fiscal year 2015-2016.

E-banking transactions have grown in the past year. This growth has ultimately benefitted different businesses in Pakistan. With mobile banking transactions, it has become very easier for people, both business owners and consumers to make payments and receive payments. People can easily buy whatever they want to through making an online payment. On the other hand, businessmen are able to expand their businesses beyond boundaries because they are able to receive payments online. Financial barriers are minimized through mobile banking in Pakistan.

Statistical proves regarding mobile transactions have proved that scope of mobile transactions is bright in Pakistan. Through mobile transactions Pakistan is able to compete economically with the rest of the world. There are numerous business ventures, started off locally, which are successfully running today. They have evolved with time due to effective payment mode innovations, such as, banking transactions.

People are keen towards making ATM Debit cards to make online transactions effectively. With these cards, people have the ease of making and receiving payments anywhere they are. Use of smartphones has also increased the scope of mobile banking in Pakistan. Making use of the net banking feature offered by almost all the banks have made business run on fingertips.

Afreen is a young writer and visionary towards life predominantly. I believe that writing is similar to life; it inspires surprises and creates. Being a Literature Masters, I am passionate about viewing the world with literary spectacle. Solely in love with this beautiful part of Universe called Pakistan, I am creating words and ideas for CharchaGuru.

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Scope of Mobile Banking in Pakistan

With the arrival of 3G and 4G mobile technology in Pakistan, banking transactions through cell phones have become a very common mode of payment in the country. 3G/4G has elevated mobile banking transa...