Idea Money, Idea Cellular’s prepaid wallet service, increased its registered user base to 12.30 million at the end of the September quarter (Q2FY18), growing 4.62% from 11.76 million in the preceding quarter. On a year-on-year basis, the number of registered wallet users increased 145.49% from 5.01 million.The total number of transactions for the quarter stood at 2.48 million growing flat from 2.43 million in the preceding quarter. However, on a year-on-year basis, the transaction volume decreased 25.29% from 3.32 million. The value of the transactions also declined in the quarter to Rs 116 crore. In the preceding quarter, it stood at Rs 219.4 crore a fall of 24.3%. The average transaction value Rs 669, a QoQ decline 25.7% from Rs 901. Not that the company has not given out details about its domestic remittance service this quarter. In Q4, Idea Money said that it processed remittances worth Rs 1186 crore in FY17 through its retail-assisted model. In addition to remittances, the retail assisted model will also allow users to pay bills and book tickets for other services. Earlier this month, Idea Money partnered with bus booking service redBus and has similar partnerships with BookMyshow, KFC, Dominos, Yepme, MakeMyTrip and IRCTC. Idea Money is currently available in 17 circles where the telecom operator is present. The company has also enabled a USSD-based platform which allows merchants and customers to process digital payments. USSD is a technology that allows wallet payments to customers who do not have access to a smartphone or internet data. More details here. Payments bank operations Idea was also one of 11 applicants to get…
- RTI: Where’s the data on Kisan Drone Yatra? March 27, 2023
- Summary: All you need to know about social media user complaints in January 2023 March 27, 2023
- YouTube pulls the plug on its live commerce venture simsim: Here’s what to know March 27, 2023
- IT Ministry Additional Secretary Given Approval Powers for “Protected Systems” Notifications March 27, 2023
- Video: Exploring User Verification, 23rd Mar, 2023, Delhi #Ad March 27, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
Amazon announced that it will integrate its logistics network and SmartCommerce services with the Open Network for Digital Commerce (ONDC).
India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?
After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples
In the case of the ‘deemed consent' provision in the draft data protection law, brevity comes at the cost of clarity and user protection
The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
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...
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...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
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...
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...