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Mobile wallet transactions declined by 15.8M to 309.6M in June 2018

For the month ending June 30, 2018, number of transactions using Prepaid Payment Instruments (which includes both Mobile Wallets and PPI Cards combined) decreased by 5% to 333 million as compared to 350.4 million in May 2018, and went up 30% compared to 255.7 million in June 2017, according to data from the Reserve Bank of India. The amount transacted grew 5.3% month on month to Rs 16,346 crores from Rs 15,521 crores, and surged 92% year on year from Rs 8,507 crores in June 2017.

Much of the decline happened in Mobile Wallets, which decreased 5% month on month to 309.6 million transactions from 325.4 million, and up 40% year on year from 221.6 million transactions in June 2017. Amount transacted using Mobile Wallets increased 4% to Rs 14,632 crores from Rs 14,047 crores and grew 176% year on year from Rs 5,310 crores in June 2017.

The number of transactions for PPIs (Wallets + PPI Cards) decreased by 17.4  million in June 2018. Total amount transacted went up by Rs 825 crore.

The number of transactions for Mobile Wallets declined by 15.8 million in June 2018, while the total amount transacted was up by Rs 585 crore. In the previous month (May 2018), the number of transactions had increased by 46.1 million, and the amount transacted had grown by Rs 2,352 crore.

The average amount per transaction for PPI went up to Rs 491 for June 2018. It has been trending up, with an increase in the amount transacted, whereas average amount per transaction for Mobile Wallets was Rs 473. A year ago it had been Rs 333.

Data Source: RBI

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