Despite the pandemic, the GSM Association announced that the number of mobile banking users worldwide has exceeded 1.2 billion, taking the overall volume of digital financial transactions to over $2 billion per year.
According to the survey, over 300 million mobile banking accounts are opened every month, and the number of mobile banking agents has risen to over 5.2 million.
This upward trend is expected to continue, as the number of people saving money through mobile banking in Pakistan has increased by 3%. Monthly cross-border remittances have also surpassed Rs. 1 billion, with total monthly remittances increasing by 65 percent.
Many countries have made particular commitments to financial inclusion by launching and developing comprehensive national policies, which may explain why mobile banking users are increasing at such an unprecedented pace.
