State Bank of India (SBI)’s mobile wallet, SBI Buddy now has 12.505 million registered wallet users at the end of the December quarter (Q3FY18). The number of wallets grew 4.88% from 11.923 million in the preceding quarter and grew around 57.6% from 7.935 million in the corresponding quarter last year. In Q1FY18, the number of wallet users stood at 10.73 million. Note that SBI does not provide information on the number of monthly active users and daily active users. However, the bank said that it is currently processing 75,000 to 80,000 transactions daily and adding 5,000 to 10,000 registrations per day. It's worth noting that for the April-December 2017 period, the number of transactions stood at 21.1 million compared to 12 million in the same period last year. On the other hand, the value of these transactions stood at Rs 420 crore, down from Rs 508 crore in the same period last year. So, while the number of transactions have nearly doubled, the value of these transactions have reduced by Rs 88 crore, which is possibly an indication that users are making more small ticket transactions via SBI Buddy. UPI SBI's unified payments interface (UPI) app, SBI Pay now has 10.9 million active users at the end of Q3FY18, as compared to 7.7 million active users in Q2FY18, and 5 million active users in Q1FY18. Note that the number of SBI Pay users also includes BHIM and USSD. SBI says that its UPI app witnesses around 17.03 lakh daily transactions, as compared to…
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