wordpress blog stats
Connect with us

Hi, what are you looking for?

Transactions in prepaid cards declined by 48% in February 2016

For the month ending February 2016, volume and amount of transactions on prepaid cards declined by 48.3% and 12.6% respectively, according to the Reserve Bank of India.

Screen Shot 2016-04-10 at 1.19.02 PM

Mobile wallets, on the other hand, saw a growth of 1% and  1.7% in volume and amount of transactions respectively.

image

Some observations:

Screen Shot 2016-04-10 at 1.41.54 PM

1. Number of transactions for prepaid cards decreased by 7.95 million in February 2016, registering its biggest fall in the last one year. Total amount transacted was down by Rs 311 crore — biggest decline since September 2015.

Screen Shot 2016-04-10 at 1.23.24 PM

2. Number of transactions for mobile wallets increased by 0.3 million in February 2016 while the total amount transacted was up by Rs 37 crore. In the month before, volume and amount of transactions for mobile wallets came down by 5 million and increased by Rs 151 crore respectively.

Advertisement. Scroll to continue reading.

Screen Shot 2016-04-10 at 1.25.00 PM

3. People are more comfortable transacting big amounts on prepaid cards. In February 2016,  average amount per transaction for prepaid cards was Rs 2528 while for mobile wallets it was just Rs 459.

Data Source: RBI

Related:

Transactions on prepaid cards down by 10.50%; mobile wallets up by 14%
Prepaid card transactions grew over 10%; mobile wallets down by 9%

Advertisement. Scroll to continue reading.

You May Also Like

News

February was a month of mixed results for the National Payments Corporation of India’s (NPCI) flagship payments platform. While several payments platforms operated by...

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