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Dominant majority of Pakistanis (65%) believe that cellphone/mobile banking will not make banking more affordable.


According to a survey conducted by Gallup Pakistan, 65% Pakistanis agreed with the following statement: ‘Cell phone/mobile banking will not make banking more affordable to use’. On the other hand, 35% disagreed with this statement. These results are a part of the nationwide Access to Finance Study conducted by the State Bank of Pakistan in 2015 with the intent of determining the degree of financial inclusiveness of the Pakistani public.

This press release is part of a special series that aim to foster an empirical understanding of financial inclusion in Pakistan and that hope to create a collaborative network of individuals working on the topic. Before starting any conversation on developing a methodology of increasing financial inclusivity in Pakistan, it is vital to be aware of the perceptions that the general public has with regards to financial matters. This particular press release aims to determine the views of Pakistanis on the supposed benefits and advantages of mobile banking. In Pakistan, people are often late adopters. One such banking innovation that is still trying to gain a foothold in the Country is mobile banking. Mobile banking, on the face of it, is quite a revolutionary idea that has the potential to even bring people who are living in far flung areas into the formal financial net. However, there still appear to be lingering doubts among the Pakistani public as to whether mobile banking will in fact be able to make banking more affordable or not. This press release aims to empirically determine the proportion of Pakistanis that have such a view about mobile banking.

A nationally representative sample of men and women from across the four provinces was asked, “Please tell me if you rather agree or rather disagree with these statements? [Cell phone/mobile banking will not make banking more affordable to use]” In response to this question, 65% Pakistanis agreed with this statement whereas 35% respondents disagreed. The empirical results show that majority opinion in the Country is still skeptical regarding the benefits of digital financial services. This empirical statistic shows that financial stakeholders in Pakistan still have to make an effort in clearing up misconceptions that Pakistanis have regarding mobile banking so that more people can be brought into the formal financial net.