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Prepaid cards and mobile wallets are finding favor with Indian customers but their growth has not been steady.

For the month ending September 2015, volume and amount of transactions on prepaid cards declined by 10.50% and 14.50% respectively, according to the Reserve Bank of India.

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Mobile wallets, on the other hand, saw a growth of 14% and 34.50% in volume and amount of transactions respectively.

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Some observations:

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1. Number of transactions for prepaid cards declined by 1.06 million in September 2015, registering its biggest fall since November 2014. Total amount transacted came down by Rs 340 crore — highest since April 2015.

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2. Number of transactions for mobile wallets grew by 6.1 million in September 2015 while the total amount transacted was up by Rs 461 crore. In the month before, volume and amount of transactions for mobile wallets declined by 10.76 million and Rs 94 crore respectively.

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3. People are more comfortable transacting big amounts on prepaid cards. In September 2015,  average amount per transaction for prepaid cards was Rs 2226.42 and it has stayed over Rs 1500 consistently throughout the year. For mobile wallets, average amount per transaction is just Rs 366.98.