The use of InstaPay surged by 740 percent year-on year in volume, from 2.9 million to more than 24 million transactions in July.
As such, SBP has recently issued policy instructions to all banks binding them to expand their ATM network in a phased manner so as to achieve a target level of one ATM for each bank branch. Once this target is achieved, we have plans to gradually raise the bar so as to come close to the international levels.