If we compare the number of successful transactions for ITZ Cash Card – probably the largest prepaid payment card in India – there was a marked dip in the total number of transactions March 2011 onwards. For the 24 month period between March 2009 and February 2011, the average transactions were 909,386 per month, and they have declined by 24.9% to 682,600 per month since then. The reason, as ITZ Cash MD Naveen Surya told us, was a clampdown forced by IRCTC on “unethical and illegal practices”. More in the report here.
We had earlier reported that IRCTC witnessed nearly 10 lakh failed transactions out of 45 lakh daily transactions that are being carried out.
Some observations, for the period from January 2009 to August 2011:
– The average number of successful transactions were 7,303,321 transactions, while average failed transactions were 130,085.
– The average success rate of ITZ Cash up till August 2011 has been 85.07% % while failure rate has been 14.92%.
– January 2011 saw the maximum number of transactions (1,133,381) and the maximum failed transactions – 219,349.
– October 2010 witnessed the maximum number of successful transactions with 930,931.
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