ISLAMABAD, March 13 (Xinhua) -- The volume of digital transactions in Pakistan constituted 82 percent of the overall retail transactions in the second quarter of the current fiscal year from July 2023 to June 2024, the State Bank of Pakistan (SBP) said on Wednesday.

The volume figure was 80 percent for the previous quarter, the central bank said in its Quarterly Payment Systems Report for the second quarter of the ongoing fiscal year.

However, in terms of value, over-the-counter (OTC) transactions constituted 85 percent of the overall retail transactions, it added.

In the same quarter, the report said that more than 90 percent of the retail fund transfers and 73 percent of bill payments or mobile top-ups were conducted using digital channels.

Mobile and internet banking remained the preferred mode of digital transactions for Pakistanis, with their users reaching 16 million and 11 million, indicating a quarterly growth rate of 8 percent and 5 percent, respectively, according to the report. Enditem

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