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Mobile Wallet transactions grew by 37.9M to 326.3M in January 2018

For the month ending January 31,2018, number of transactions using Prepaid Payment Instruments (which includes both Mobile Wallets and PPI Cards combined) increased by 13% to 361.2 million as compared to 319.9 million in December 2017, and grew 22% compared to 295.8 million in January 2017, according to data from the Reserve Bank of India. The amount transacted went up 3% month on month to Rs 14,771 crores from Rs 14,334 crores, while grew 34% year on year from Rs 11,001 crores in January 2017.

 

Much of the growth happened in Mobile Wallets, which increased 13.2% month on month to 326.3 million transactions from 288.4 million, and up 25% year on year from 261.7 million transactions in January 2017. Amount transacted using Mobile Wallets decreased marginally to Rs 12,563 crores from Rs 12,568 crores and grew 50% year on year from Rs 8,353 crores in January 2017.


The number of transactions for PPIs (Wallets + PPI Cards) increased by 41.4 million in January 2018. Total amount transacted went up by Rs 437 crore.

The number of transactions for Mobile Wallets grew by 37.9 million in January 2018, while the total amount transacted was down by Rs 5 crore. In the previous month (December 2017), the number of transactions had increased by 101.7 million, and the amount transacted had grown by Rs 3180 crore.

The average amount per transaction for PPI fell down to Rs 409 for January 2018. It has been trending down, with an increase in the number of transactions, whereas average amount per transaction for Mobile Wallets was Rs 385. A year ago it had been Rs 319.

Data Source: RBI

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