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Mobile wallet transactions grew by 15.5M to 340.7M in August 2018

For the month ending August 31, 2018, number of transactions using Prepaid Payment Instruments (which includes both Mobile Wallets and PPI Cards combined) increased by 6% to 372.9 million as compared to 351.8 million in July 2018. It went up 43% compared to 261.1 million in August 2017, according to data from the Reserve Bank of India. The amount transacted grew 8% month on month to Rs 18,981 crores from Rs 17,519 crores, and surged 84% year on year from Rs 10,288 crores in August 2017.

Much of the growth happened in Mobile Wallets, which increased 4.8% month on month to 340.7 million transactions from 325.2 million, and up 51% year on year from 225.4 million transactions in August 2017. Amount transacted using Mobile Wallets increased 2.4% to Rs 15,573 crores from Rs 15,202 crores and grew 114% year on year from Rs 7,262 crores in August 2017.

The number of transactions for PPIs (Wallets + PPI Cards) increased by 21.1 million in August 2018. Total amount transacted went up by Rs 1,462 crore.

The number of transactions for Mobile Wallets grew by 15.5 million in August 2018, while the total amount transacted was up by Rs 371 crore. In the previous month (July 2018), the number of transactions had increased by 15.6 million, and the amount transacted had grown by Rs 570 crore.

The average amount per transaction for PPI went up to Rs 509 for August 2018. It has been trending up, with an increase in the amount transacted, whereas average amount per transaction for Mobile Wallets was Rs 457. A year ago it had been Rs 322.

Data Source: RBI

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