Staff Repoter Islamabad
The State Bank of Pakistan released its Annual Payment Systems Review (PSR) for the fiscal year 2020-21, which shows strong growth in the space of digital financial transactions in the country, indicating the central banks continued pursuit for the development of a robust and efficient payments ecosystem in the country.
According to the PSR, transactions processed through SBP’s large-value payments segment, known as Real-time Inter-Bank Settlement Mechanism (PRISM), recorded Year-on-Year (YoY) growth of 60.0% by number of transactions (volume) and 12.8% by value. Similarly, overall e-Banking transactions registered YoY growth of 31.1% which highlights substantial increase in adaption of digital means for payments.
