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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

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