For the month ending June 2016, volume and amount of transactions on prepaid cards decreased by 11.2% and 2% respectively, according to the Reserve Bank of India.
Mobile wallets, on the other hand, saw a growth of 16.5% in volume and 13.9% in the amount of transactions.
1. Number of transactions for prepaid cards decreased by 2.31 million in June 2016. Total amount transacted went down by Rs 42 crore.
2. Number of transactions for mobile wallets grew by 8.3 million in June 2016 while the total amount transacted was up by Rs 339 crore. In the month before, volume and amount of transactions for mobile wallets increased by 1.6 million and Rs 142 crore respectively.
3. People are more comfortable transacting big amounts on prepaid cards. In June 2016, average amount per transaction for prepaid cards was Rs 1,258 and it has stayed over Rs 1,000 consistently throughout the year. For mobile wallets, average amount per transaction is just Rs 473.