Only 15% of Pakistanis Use Digital Financial Services

Friday, August 7, 2015

ISLAMABAD: Only 15% Pakistanis avail Digital Financial Services (DFS) and there has been no significant increase in the user base or registrations between 2013 and 2014, said a Financial Inclusion Insights (FII) survey report, jointly conducted and launched by Karandaaz Pakistan and Inter Media.

“The aim of this report is to identify the need for timely demand-side data and practical insight into DFS including mobile money,” said Karandaaz Pakistan Chief Executive Officer Imdad Aslam.

Based on over 6,000 interviews carried out in 2014, with adults aged 15 and over, the report also aimed to provide actionable, forward-looking insights into support product and service development, and delivery.

It revealed that Pakistan’s financial inclusion numbers remain lower than those of neighbouring countries. “Only 68% of those interviewed understood the concept of mobile money,” said the report, adding that “out of which only a few could identify the full range of services accessible via mobile money.”

Source: The Express Tribune (link opens in a new window)

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digital payments, financial inclusion, mobile banking, mobile finance, mobile money