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Transactions on Mobile Wallets rebound slightly to 279.3M in April 2018

For the month ending April 30, 2018, number of transactions using Prepaid Payment Instruments (which includes both Mobile Wallets and PPI Cards combined) increased by 11% to 326.2 million as compared to 293.7 million in March 2018, but went down 7% compared to 352.2 million in April 2017, according to data from the Reserve Bank of India. The amount transacted went up 13% month on month to Rs 13,380 crores from Rs 11,882 crores, while grew 29% year on year from Rs 10,371 crores in April 2017.

Much of the growth happened in Mobile Wallets, which increased 4% month on month to 279.3 million transactions from 268.8 million and down 13% year on year from 320.9 million transactions in April 2017. Amount transacted using Mobile Wallets increased 16% to Rs 11,695 crores from Rs 10,097 crores and grew 57% year on year from Rs 7,442 crores in April 2017.

The number of transactions for PPIs (Wallets + PPI Cards) increased by 32.5 million in April 2018. Total amount transacted raised by Rs 1,498 crore.

The number of transactions for Mobile Wallets grew by 10.5 million in April 2018, while the total amount transacted was up by Rs 1,598 crore. In the previous month (March 2018), the number of transactions had decreased by 41.2 million, and the amount transacted had declined by Rs 3,007 crore.

The average amount per transaction for PPI went up to Rs 410 for April 2018 a slight increase from Rs 405 in the previous month. The average amount per transaction for Mobile Wallets was Rs 419. A year ago it had been Rs 232.

Data Source: RBI

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