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SBI Buddy registered users grew 11.13% QoQ to 11.92 million

State Bank of India (SBI)’s mobile wallet, SBI Buddy, now has 11.923 million registered wallet users at the end of the June quarter (Q1FY18). The number of wallets grew around 11.12% from 10.73 million in the preceding quarter and grew exponentially from 4.87 million in the same quarter last year. Note that SBI does not give information on the number of monthly active users and daily active users. However, the bank said that it is seeing 75000 to 80000 transactions daily and that it is adding 10-15k registrations in a day. For the April to September period, the volume of transactions i.e the number of transactions stood at 14.2 million compared to 5.1 million in the same period last year. The value of these transactions stood at Rs 311 crore compared to Rs 221 crore in the same quarter last year.  UPI SBI has a unified payments interface (UPI) app called SBI Pay and says that it now has 14.8 million users at the end of September growing from 10 million in June, growing 48%. SBI says that its UPI application sees around 23.7 lakh daily transactions and that it sees 60,000 daily registrations. The volume of transactions in the July-September period stood at 34 million compared to 17.8 million in the April-June period, growing 91%. The value of transactions in the July-September period stood at Rs 7673 crore growing from Rs 5567 crore in the January-March quarter, growing 37.83%. Mobile banking The bank’s mobile banking application now has 25.77 million users growing from 13.40…

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