The State Bank of Pakistan (SBP) has partnered with World Bank to reinforce security checks on electronic payment transactions through automation and digitisation.
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SBP executive director Muhammad Ashraf Khan said: "The State Bank of Pakistan is currently working with the World Bank experts to develop the future payment system specific to Pakistan. We are mindful of the critical role of technology in achieving the strategic objective of national financial inclusion."
The central bank is also in process to issue guidelines on card security and prepaid cards, Khan said.
In the last five years, volume of e-banking transactions has doubled, with nearly 100 million transactions, worth INR 526bn, carried out during July-September 2015, Khan added.
Khan’s remarks came on the sidelines of the 14th annual conference on e-banking in Pakistan.
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