We don't have post-demonetization data yet, but the Immediate Payment Service (IMPS) saw a 18.8% growth in the total transactions taking place between September and October 2016. There was a 1.74% increase in total number of Mobile Money IDs (MMID), according to data published by the National Payments Corporation of India. The NPCI is also the bank-led organization that runs the Unified Payments Interface (UPI), which doesn't allow wallets. Note: Download our digital payments report here. There's more data there, but up to August 2016. The IMPS transaction volumes grew on a monthly basis to 47.33 million (47,332,046 transactions) from 39.84 million transactions (39,841,934 transactions) while the amount transacted increased 18.56% on a monthly basis to Rs 37,838.9 crore. The average transaction amount decreased by 0.2% on a monthly basis to Rs 7,994. Month-wise details: Bank Status 53 commercial banks have signed up for IMPS. Related – Rs 31,916 Cr transacted in September 2016 using IMPS – Rs 29,657 Cr transacted using IMPS in August 2016 – Rs 26,662 Cr transacted using IMPS in July 2016 – Rs 25,852 Cr transacted using IMPS in June 2016
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
News
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
Advert
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
News
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...
News
Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...