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Mobile Wallet transactions declined by 26M to 199.5M in September 2017

Wallets

For the month ending September 2017, number of transactions using Prepaid Payment Instruments (which includes both Mobile Wallets and PPI Cards combined) decreased by 8% to 240.29 million as compared to 261.4 million in August 2017, and grew 148% compared to 97.07 million in September 2016, according to data from the Reserve Bank of India. The amount transacted went up only 7% month on month to Rs 10,977 crores from Rs 10,288 crores, while grew 95% year on year from Rs 5,628 crores in September 2016.

Much of decline happened in mobile wallets, which decreased 11.5% month on month to 199.48 million transactions from 225.43 million, but were up 165% year on year from 75.3 million transactions in September 2016. In terms of number of transactions, there is a clear trend downwards. Amount transacted using Mobile Wallets grew 12.3% month on month – to Rs 8,154 crores from Rs  7,262 crores, but grew 155% year on year from Rs 3,192 crores in September 2016.

Number of transactions for PPIs (wallets + PPI Cards) decreased by 20.9 million in September 2017. Total amount transacted went up Rs 689 crore.

Number of transactions for mobile wallets declined by 26 million in September 2017 while the total amount transacted was up by Rs 892 crore. The highest decline in Mobile wallet transactions happened in May 2017. In the previous month (August 2017), number of transactions had decreased by 10 million, and the amount transacted had increased by Rs 328 crore.


With more decrease in the number of transactions than the amount transacted for the current month, the average amount per transaction has grown. In September 2017, average amount per transaction for Mobile Wallets was Rs 409. A year ago it had been Rs 424.

Data Source: RBI

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