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Mobile wallet transactions declined by 7% in June 2019

For the month ending June 30, 2019, the number of transactions using Prepaid Payment Instruments (which includes both Mobile Wallets and PPI Cards combined) declined by 7% to 389.8 million as compared to 419 million in June 2019. It went up 17% (by 56.87M) from 333 million in June 2018, according to data from the Reserve Bank of India. The amount transacted declined 2.9% month on month to Rs 17,764 crores from Rs 18,297 crores and increased 9% year on year from Rs 16,346 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 9% month-on-month to 334.7 million transactions from 367.4 million, and were up 8% year on year from 309.6 million transactions in June 2018. Amount transacted using Mobile Wallets decreased 1.6% to Rs 15,471 crores from Rs 15,727 crores and grew only 6% year on year from Rs 14,632 crores in June 2018. The number of transactions for PPIs (Wallets + PPI Cards) decreased by 29.2 million in June 2019. Total amount transacted went down by Rs 533 crore. The number of transactions for Mobile Wallets declined by 32.8 million in June 2019, while the total amount transacted was down by Rs 256 crore. In the previous month (May 2019), the number of transactions had decreased by 13.2 million, and the amount transacted declined by Rs 248 crore. The average amount…

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