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Mobile wallet transactions declined by 39.8 M year on year to 345.03M in February 2019

For the month ending February 28, 2019, the number of transactions using Prepaid Payment Instruments (which includes both Mobile Wallets and PPI Cards combined) declined by 13% to 384.9 million as compared to 443.6 million in January 2019. It went down 11% (39.5M) compared to 345.4 million in February 2018, according to data from the Reserve Bank of India. The amount transacted declined 11.8% month on month to Rs 16,497 crores from Rs 18,703 crores and decreased 10% year on year from Rs 14,959 crores in February 2018.

Much of the decline happened in Mobile Wallets, which decreased 12.8% month on month to 345.03 million transactions from 395.83 million, and up 11% year on year from 310 million transactions in February 2018. Amount transacted using Mobile Wallets decreased 10% to Rs 14,279 crores from Rs 15,858 crores and grew only 9% year on year from Rs 13,104 crores in February 2018.

The number of transactions for PPIs (Wallets + PPI Cards) decreased by 58.7 million in February 2019. Total amount transacted went down by Rs 2,206 crore.

The number of transactions for Mobile Wallets declined by 50.8 million in February 2019, while the total amount transacted was down by Rs 1,579 crore. In the previous month (January 2019), the number of transactions had increased by 2.8 million, and the amount transacted had declined by Rs 510 crore.

The average amount per transaction for PPI went up to Rs 429 for February 2019. It has been trending down, with a decrease in the amount transacted, whereas the average amount per transaction for Mobile Wallets was Rs 414. A year ago it had been Rs 423.

Data Source: RBI

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