Pakistan is leading in ‘Mobile Money’ as the people using mobile phone to transfer money more than any country of South Asia, World Bank report revealed.
World Bank’s Global Finder Database initiated the study, which gives insight about how people borrow, save, manage risks and make payment, told that an average three per cent of people in South Asia used a cell phone to receive or send money in year 2014.
“While there are still gaps between how often men and women use these services, Pakistan leads the region with 9% of men and 2% of women moving money on their mobiles,” report said.
According to report, India is behind Pakistan in South Asian countries, three per cent of male and one percent of female population used mobile phones to carry out financial transactions.
The Global Findex indicators are collected from survey data coducted by Gallup, Inc over the 2014 calendar year, covering around 150,000 adults in more than 140 economies and representing about 97% of the world’s population. The set of indicators will be collected again in 2017.
The Global Findex is the world’s most reliable database on financial inclusion that measures people’s use of financial services across the world.