wordpress blog stats
Connect with us

Hi, what are you looking for?

Prepaid card transactions grew over 13.4%; mobile wallets up 9% in March 2016

For the month ending March 2016, volume and amount of transactions on prepaid cards grew by 13.4% and 29.5% respectively, according to the Reserve Bank of India.


Mobile wallets, on the other hand, saw a growth of 9% in volume and 5.7% in the amount of transactions.

image (5)

Some observations:


1. Number of transactions for prepaid cards increased by 2.19 million in March 2016. Total amount transacted went up by Rs 746 crore.

image (3)

2. Number of transactions for mobile wallets grew by 4.4 million in March 2016 while the total amount transacted was up by Rs 128 crore. In the month before, volume and amount of transactions for mobile wallets increased by 0.3 million and Rs 37 crore respectively.

image (2)

3. People are more comfortable transacting big amounts on prepaid cards. In March 2016, average amount per transaction for prepaid cards was Rs 1,771 and it has stayed over Rs 1,400 consistently throughout the year. For mobile wallets, average amount per transaction is just Rs 445.

Data Source: RBI


Transactions on prepaid cards down by 10.50%; mobile wallets up by 14%
Prepaid card transactions grew over 10%; mobile wallets down by 9%
Transactions in prepaid cards declined by 48% in February 2016

You May Also Like


Mobile number porting requests increased by 20% to 8.2 million requests in December 2020, compared to 6.8 million porting requests reported in November 2020....


Amazon is joining hands with ICICI Bank and Axis Bank and several others to create a national payments network that will rival the National...


“We are seeing a digitisation wave for payments and receivable, which is why we are going towards creating a full stack solution with invoice...


The National Payments Corporation of India (NPCI) is in the process of upgrading its IT system and several of its payments platforms by the...

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
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