Mobile wallets saw a decrease of 8.8% in the number of transactions, and of 3.6% in amount transacted for the month ending April 2016. This ended a five month streak of growth in amount transacted each month, even though the number of transactions has fluctuated. What's worth noting is that the total amount transacted by Mobile wallets, at least as per the RBI, was as much as Rs 2293 crore. However, the number of transactions, at 48.76 crores is low, and substantially lower than the 67.1 million reported in April last year. So the amount transacted using mobile wallets has increased, even as the number of transactions has increased. A month on month comparison, however, indicates greater volatility: Number of transactions for mobile wallets decreased by 4.7 million in April 2016, in comparison with March, while the total amount transacted was down by just Rs 86 crore. In the previous month, number of transactions had increased by 4.4 million, while amount transacted had increased by Rs 128 crore. The average amount per transaction has been steady for mobile wallets, though, and there's far greater volatility in case of Prepaid Cards: The volatility in prepaid card transactions may be down to higher volumes of usage. However, a sudden dip in prepaid card transactions was also witnessed in April 2016, after a sharp increase in March. For the month ending April 2016, number of transactions grew 10.8%, while the amount transacted declined by 33.8%. Number of transactions for prepaid cards increased by 1.99 million in April…
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
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...
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
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
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...