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Mobile Wallet transactions declined by 41.2M to 268.8M in March 2018

For the month ending March 31,2018, number of transactions using Prepaid Payment Instruments (which includes both Mobile Wallets and PPI Cards combined) decreased by 15% to 293.7 million as compared to 345.4 million in February 2018, and also went down 14% compared to 342.1 million in March 2017, according to data from the Reserve Bank of India. The amount transacted fell down 21% month on month to Rs 11,882 crores from Rs 14,959 crores, while grew 11% year on year from Rs 10,677 crores in March 2017.

Much of the decline happened in Mobile Wallets, which decreased 13% month on month to 268.8 million transactions from 310 million, and down 13% year on year from 307.5 million transactions in March 2017. Amount transacted using Mobile Wallets decreased 23% to Rs 10,097 crores from Rs 13,104 crores and grew 38% year on year from Rs 7,312 crores in March 2017.

The number of transactions for PPIs (Wallets + PPI Cards) decreased by 51.7 million in March 2018. Total amount transacted went down by Rs 3,077 crore.

The number of transactions for Mobile Wallets declined by 41.2 million in March 2018, while the total amount transacted was down by Rs 3,007 crore. In the previous month (February 2018), the number of transactions had decreased by 16.3 million, and the amount transacted had grown by Rs 541 crore.

The average amount per transaction for PPI went down to Rs 405 for March 2018. It has trended down, with decrease in the number of transactions, whereas average amount per transaction for Mobile Wallets was Rs 376. A year ago it had been Rs 238.

Data Source: RBI

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