Mobile wallet transactions declined by 6M month on month to 378.9M in April 2019

For the month ending April 30, 2019, the number of transactions using Prepaid Payment Instruments (which includes both Mobile Wallets and PPI Cards combined) declined slightly by 2% to 419.2 million as compared to 427.2 million in March 2019. It went up 29% (by 93M) from 326.2 million in April 2018, according to data from the Reserve Bank of India. The amount transacted declined 2.5% month on month to Rs 18,127 crores from Rs 18,599 crores and increased 35% year on year from Rs 13,380 crores. It’s still off its peak of 395.83 million transactions in January 2019, and Rs 18786 crores in October 2018. The RBI doesn’t release company specific data.

Much of the decline happened in Mobile Wallets, which decreased 2% month on month to 378.87 million transactions from 384.89 million, and were up 36% year on year from 279.3 million transactions in April 2018. Amount transacted using Mobile Wallets decreased 3% to Rs 15,548 crores from Rs 15,590 crores and grew only 33% year on year from Rs 11,695 crores in April 2018.

The number of transactions for PPIs (Wallets + PPI Cards) decreased by 8 million in April 2019. Total amount transacted went down by Rs 472 crore.

The number of transactions for Mobile Wallets declined by 6 million in April 2019, while the total amount transacted was down by Rs 442 crore. In the previous month (March 2019), the number of transactions had increased by 39.9 million, and the amount transacted grew by Rs 1,711 crore.

The average amount per transaction for PPI went down to Rs 432 for April 2019. It has been trending down, with a decrease in the amount transacted, whereas the average amount per transaction for Mobile Wallets was Rs 410. A year ago it had been Rs 419.