wordpress blog stats
Connect with us

Hi, what are you looking for?

, , , ,

IMPS Data: 49.90M Mobile Money IDs, Just 343,532 Txns In April 2013

The Interbank Mobile Payment Service saw a decline of 4.05% in the total transactions taking place between March and April 2013, with a 1.41 % increase in total number of Mobile Money IDs (MMID) issued, according to data published by the National Payments Council of India. The transaction volumes decreased substantially month on month from 358,038 to 343,532, even though the amount transacted increased by 25.87% to Rs 172.10 crore. The average transaction amount increased by 31.18% to Rs 5009.93.

Month-wise details:

Interbank Mobile Payments Service

Total Transactions vs Amount Transacted

MMID April 2013

Banks Status

56 banks have so far signed up for IMPS, with 7 banks including Catholic Syrian Bank , IDBI Bank, Indian Overseas Bank, Andhra Bank, State Bank of Bikaner and Jaipur, Bank of Baroda and Dhanlaxmi Bank in soft launch.

Among banks, ICICI Bank has issued the maximum numbers of MMIDs at 175.93 lakh followed by Axis Bank with 84.37 lakh, SBI Bank with 58.75 lakh MMIDs, Indian Bank with 44.95 lakh and Kotak Mahindra Bank with 21.93 lakh MMIDs. This means that the top five banks of 56 banks account for as many as 87% of the total number of MMIDs. While it is expected that the more the MMIDs, the more the likelihood that P2P transactions will take place, the figures continues to be dismal.

Advertisement. Scroll to continue reading.

The NPCI is taking other steps to promote the service as well, including the introduction of a universal USSD code to access the service. We’d like to reiterate that all partner Banks are still not promoting the IMPS at a level necessary for its growth.

Related:

IMPS Data: 49.21M Mobile Money IDs, Just 358038 Txns In March 2013
– IMPS Data: 45.39M Mobile Money IDs, Just 148984 Txns In Dec 2012
– IMPS Data: 44.49M Mobile Money IDs, Just 86,884 Txns In Nov 2012
– IMPS Reports 35.51M Mobile Money IDs, 44 Banks; Just 34,084 Transactions In June 2012
– IMPS Reports 34.94M Mobile Money IDs, 43 Banks; Just 31,553 Transactions In May 2012
– April 2012: 34.54M IMPS Mobile Money IDs; 24,922 Transactions
– March 2012: 33.87M IMPS Mobile Money IDs; 30,137 Transactions
– February 2012: 33.53M IMPS Mobile Money IDs; 22,997 Transactions
– January 2012: 18.33M IMPS Mobile Money IDs; 19,101 Transactions

Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

The US and other countries' retreat from a laissez-faire approach to regulating markets presents India with a rare opportunity.

News

When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

News

In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...

News

By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...

You May Also Like

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

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...

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

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...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ