Financial inclusion among Pakistani adults, which now accounts for three out of every ten, more than doubled between 2017 and 2022.
According to the recently published Karandaaz Financial Inclusion Survey 2022, financial inclusion rose from 14% in 2017 to 21% in 2020 and 30% in 2022. People who hold an account in their name with a full-service financial institution are considered to be financially included.
Registered users for mobile money, which involves the use of a mobile phone to transfer funds, deposit or withdraw funds, or pay bills, as a percentage of Pakistani adults also increased from 9 percent in 2020 to 19 percent in 2022.
About 45 percent of mobile money wallet users recommend their use to others. Of these, 37 percent recommended a specific mobile money wallet service. JazzCash was the most recommended service (69 percent), followed by Telenor Easypaisa (24 percent).
The top reasons for recommending Easypaisa were “easier to transact with me” (69 percent), “easier to use” (27 percent), and “cheaper to transact with me” (26 percent). In comparison, JazzCash was recommended because of “lower transaction fees” (34 percent) and “being used by people I socialise with” (32 percent). Â
