Pakistani Payment Cards Increased from 9.2 Million Cards in Circulation in 2009 to 23.1 Million by the End of 2013

Date: 2015-09-18

“• Pakistani payment cards (including debit and credit cards) registered a positive growth during the review period, recording a compound annual growth rate (CAGR) of 25.93%, and increasing from 9.2 million cards in circulation in 2009 to 23.1 million by the end of 2013. In terms of transaction value, payment cards valued PKR1.9 trillion (US$18.8 billion) in 2013, after registering a review-period CAGR of 24.37%.

• The average transaction value (ATV) in Pakistan was US$93.0, which is the ninth-largest among the other Asia-Pacific countries. China recorded the highest ATV, with US$302.4, followed by Taiwan (US$251.1), Kazakhstan (US$199.7), Hong Kong (US$184.6), Singapore (US$148.5), Thailand (US$148.2), Malaysia (US$140.1) and Australia (US$98.9). Pakistan ranked fifteenth in terms of the card penetration rate compared to the other Asia-Pacific countries, with 0.12 cards per inhabitant.

• Pakistan ranked sixteenth among the other Asia-Pacific countries in the frequency of use of payment cards, with 8.7 transactions per card. New Zealand recorded the highest frequency, with 146.1 transactions, followed by Australia (96.6), South Korea (44.7), Singapore (36.0), Indonesia (28.8), Hong Kong (26.3), Thailand (25.0), Malaysia (18.1), India (17.5), Kazakhstan (14.2), Taiwan (12.4), Cambodia (11.8), Japan (11.5), Vietnam (10.4) and the Philippines (9.9).

• While cash remains the most popular payment format among Pakistani consumers, they are gradually making use of payment cards for payments for purchases and utility bill payments. Rising consumer awareness of the benefits of payment cards, government initiatives and the introduction of innovative products and marketing campaigns by card issuers are expected to drive consumers towards card-based payments.”

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