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Mobile Wallet transactions declined by 16M to 310M in February 2018

For the month ending February 28,2018, number of transactions using Prepaid Payment Instruments (which includes both Mobile Wallets and PPI Cards combined) decreased by 4% to 345.4 million as compared to 361.2 million in January 2018, and grew 23% compared to 280 million in February 2017, according to data from the Reserve Bank of India. The amount transacted went up 1.3% month on month to Rs 14,959 crores from Rs 14,771 crores, while grew 55% year on year from Rs 9,628 crores in February 2017.

Much of the decline happened in Mobile Wallets, which decreased 5% month on month to 310 million transactions from 326.3 million, and up 26% year on year from 247 million transactions in February 2017. Amount transacted using Mobile Wallets increased 4.3% to Rs 13,104 crores from Rs 12,563 crores and grew 90% year on year from Rs 6,911 crores in February 2017.

The number of transactions for PPIs (Wallets + PPI Cards) decreased by 15.8 million in February 2018. Total amount transacted went up by Rs 188 crore.

The number of transactions for Mobile Wallets declined by 16.3 million in February 2018, while the total amount transacted was up by Rs 541 crore. In the previous month (January 2018), the number of transactions had increased by 37.9 million, and the amount transacted had declined by Rs 5 crore.

The average amount per transaction for PPI went up to Rs 433 for February 2018. It has been trending down, with an increase in the number of transactions, whereas average amount per transaction for Mobile Wallets was Rs 423. A year ago it had been Rs 280.

Data Source: RBI

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