wordpress blog stats
Connect with us

Hi, what are you looking for?

Rs 37,838.9 Cr transacted in October 2016 using IMPS

oct-imps

We don’t have post-demonetization data yet, but the Immediate Payment Service (IMPS) saw a 18.8% growth in the total transactions taking place between September and October 2016. There was a 1.74% increase in total number of Mobile Money IDs (MMID), according to data published by the National Payments Corporation of India. The NPCI is also the bank-led organization that runs the Unified Payments Interface (UPI), which doesn’t allow wallets.

Note: Download our digital payments report here. There’s more data there, but up to August 2016.

The IMPS transaction volumes grew on a monthly basis to 47.33 million (47,332,046 transactions) from 39.84 million transactions (39,841,934 transactions) while the amount transacted increased 18.56% on a monthly basis to Rs 37,838.9 crore. The average transaction amount decreased by 0.2% on a monthly basis to Rs 7,994.

Month-wise details:

oct-imps1

oct-imps2

 

Bank Status

53 commercial banks have signed up for IMPS.

Related
Rs 31,916 Cr transacted in September 2016 using IMPS
Rs 29,657 Cr transacted using IMPS in August 2016
Rs 26,662 Cr transacted using IMPS in July 2016
Rs 25,852 Cr transacted using IMPS in June 2016

You May Also Like

News

The National Payments Corporation of India is in the process of rolling out a completely open source platform for the Unified Payments Interface (UPI)...

News

MobiKwik’s net revenues grew by 134% to ₹379 crore at the end of FY20 from ₹162 crore on the back of higher revenue from...

News

Non-bank lender Bajaj Finance is planning to enter the competitive Unified Payments Interface (UPI) market with its own third-party app called Bajaj Pay. The...

News

Digital payment adoption has grown significantly in the last year, reflecting a secular trend among Indian consumers and businesses, TR Ramachandran VISA Inc’s group...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to Daily Newsletter

    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ