wordpress blog stats
Connect with us

Hi, what are you looking for?

Mobile wallet transactions grew by 3.7% in July 2019

For the month ending July 31, 2019, the number of transactions using Prepaid Payment Instruments (which includes both Mobile Wallets and PPI Cards combined) grew by 5% to 407.6 million as compared to 389.8 million in July 2019. It went up 16% (by 55.8M) from 351.8 million in July 2018, according to data from the Reserve Bank of India. The amount transacted grew 3.8% month on month to Rs 18,437 crores from Rs 17,764 crores and increased 5% year on year from Rs 17,519 crores. It’s still off its peak of 443.6 million transactions in January 2019, and Rs 22128 crores in October 2018. The RBI doesn’t release company-specific data.


Much of the growth happened in Mobile Wallets, which increased 3.7% month-on-month to 347.1 million transactions from 334.7 million, and were up 7% year on year from 325.2 million transactions in July 2018. Amount transacted using Mobile Wallets increased 3.1% to Rs 15,949 crores from Rs 15,471 crores and grew only 5% year on year from Rs 15,202 crores in July 2018.

The number of transactions for PPIs (Wallets + PPI Cards) increased by 17.8 million in July 2019. Total amount transacted went up by Rs 673 crore.

The number of transactions for Mobile Wallets grew by 12.4 million in July 2019, while the total amount transacted was up by Rs 478 crore. In the previous month (June 2019), the number of transactions had decreased by 32.8 million, and the amount transacted declined by Rs 256 crore.

The average amount per transaction for PPI went down to Rs 452 for July 2019. It has been trending down, with a decrease in the amount transacted, whereas the average amount per transaction for Mobile Wallets was Rs 459. A year ago it had been Rs 467.

Data Source: RBI

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

By Rahul Rai and Shruti Aji Murali A little less than a year since their release, the Consumer Protection (E-commerce) Rules, 2020 is being amended....

News

By Anand Venkatanarayanan                         There has been enough commentary about the Indian IT...

News

By Rahul Rai and Shruti Aji Murali The Indian antitrust regulator, the Competition Commission of India (CCI) has a little more than a decade...

News

By Stella Joseph, Prakhil Mishra, and Surabhi Prabhudesai The recent difference of opinions between the Government and Twitter brings to fore the increasing scrutiny...

News

This article is being posted here courtesy of The Wire, where it was originally published on June 17.  By Saksham Singh The St Petersburg paradox,...

You May Also Like

News

While Visa had partially complied with the RBI mandate in 2018, it has now become the first global financial services company to begin storing...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ