In response to recent media reports suggesting widespread disruptions in funds transfers and cash withdrawals, 1LINK has assured its stakeholders that its services remain fully operational and available 24/7. The consortium, which manages the largest interbank network in Pakistan, addressed concerns through an official press release, emphasizing that all banking touchpoints, including ATMs, mobile apps, internet banking, point-of-sale terminals, and agent networks, are functioning normally.
The company acknowledged a brief period of service degradation experienced yesterday evening but clarified that all transactional services were quickly restored. Most customers who faced difficulties were able to complete their transactions successfully once the issue was resolved.
1LINK highlighted that the transaction volumes on the day of the disruption exceeded the daily average for 2024. The company reported that transactions for the day were anticipated to surpass 5 million, totaling Rs. 160 billion across interoperable ATMs and Interbank Funds Transfers (IBFTs). This high volume underscores the robustness of 1LINK’s infrastructure and the continued trust that customers and member banks place in the network.
To provide context, year-to-date figures for ATM cash withdrawals and IBFTs up to August 31, 2024, show a significant volume of transactions, with daily averages reflecting the heavy usage of the network. On September 1, 2024, ATM withdrawals reached 1.47 million transactions valued at Rs. 17.30 billion, while IBFT transactions amounted to 3.51 million, totaling Rs. 61.25 billion. The following day, these numbers increased further, demonstrating the network’s capability to handle high transaction volumes even during periods of disruption.
1LINK reaffirmed its commitment to maintaining the highest standards of service and security across all its digital payment platforms. The company is actively collaborating with partner banks and the State Bank of Pakistan (SBP) to ensure that financial services remain uninterrupted and secure. As always, 1LINK’s dedication to resilience and customer trust remains a priority, and the organization continues to work diligently to support the financial ecosystem.