Pakistan leads South Asia in mobile money

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STAFF REPORT ISB: Pakistan is leading its way in South Asia with nine per cent of its male and two per cent of its female citizens using mobile phones to carry out financial transactions, reveals a recent World Bank report.

The study conducted by the Banks Global Findex Database, which provides in-depth data on how individuals save, borrow, make payments and manage risks, said that an average three per cent of people in South Asia used a mobile phone to send or receive money in 2014.

“While there are still gaps between how often men and women use these services, Pakistan leads the region with 9 per cent of men and 2 per cent of women moving money on their mobiles,” the findings of the research read.

The Global Findex is the worlds most comprehensive database on financial inclusion that consistently measures peoples use of financial services across countries and over time

Surprisingly, India ranks second in the list of mobile money with three per cent of its male while just one per cent of its female population making use of their cellular phones for carrying out financial transactions.

The report indicators are drawn from survey data collected by Gallup, Inc over the 2014 calendar year, covering around 150,000 adults in more than 140 economies and representing about 97% of the worlds population. The set of indicators will be collected again in 2017.


Published in: Volume 07 Issue 07

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