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Mobile Wallet transactions grew by 101.7M to 288.4M in December 2017

For the month ending December 31, 2017, number of transactions using Prepaid Payment Instruments (which includes both Mobile Wallets and PPI Cards combined) increased by 35% to 319.9 million as compared to 236.2 million in November 2017, and grew 23% compared to 261.1 million in December 2016, according to data from the Reserve Bank of India. The amount transacted went up 8% month on month to Rs 14,334 crores from Rs 13,221 crores, while grew 47% year on year from Rs 9,770 crores in December 2016.

Much of the growth happened in Mobile Wallets, which increased 54.5% month on month to 288.4 million transactions from 186.7 million, and up 35% year on year from 213.1 million transactions in December 2016. Amount transacted using Mobile Wallets grew 34% month on month to Rs 12,568 crores from Rs 9,388 crores, and grew 69% year on year from Rs 7,448 crores in December 2016.

Number of transactions for PPIs (Wallets + PPI Cards) increased by 83.7 million in December 2017. Total amount transacted went up Rs 1,103 crore.

Number of transactions for Mobile Wallets grew by 101.7 million in December 2017, while the total amount transacted was up by Rs 3,180 crore. In the previous month (November 2017), number of transactions had decreased by 14.6 million, and the amount transacted had grown by Rs 728 crore.

With robust increase in both the number of transactions and the amount transacted for the current month, the average amount per transaction has increased as well. In December 2017, average amount per transaction for Mobile Wallets was Rs 436. A year ago it had been Rs 349.

Data Source: RBI

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