KARACHI: The online payment through debit cards for e-commerce registered phenomenal growth of 152 percent in first quarter of current fiscal year, according to data released by State Bank of Pakistan (SBP) on Thursday.
The online payment for e-commerce increased to Rs11.1 billion in the first quarter (July – September) 2020/2021 as compared with Rs4.4 billion in the same quarter of the last fiscal year.
The volume of transactions also registered around 200 percent during the period under review. According to SBP data the volume of debt card transactions increased to 3.9 million during first quarter of the current fiscal year as compared with 1.3 million in the same quarter of the last fiscal year.
The total e-commerce transactions registered 81 percent growth during the first quarter of the current fiscal year. The value of e-commerce transactions (payment through debt, credit and pre-paid cards) increased to Rs24.1 billion during the quarter under review as compared with Rs13.5 billion in the same quarter of the last fiscal year.
The e-commerce transactions through credit card increased to Rs12.9 billion during the first quarter of fiscal year 2020/2021 as compared with Rs9.1 billion in the corresponding quarter of the last fiscal year.
