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Mobile wallet transactions grew 14.7% in June 2020

For the month ending June 30, 2020, the number of transactions using Prepaid Payment Instruments — which includes both Mobile Wallets and PPI Cards combined — grew by 17% to 354.7 million, as compared to 303.2 million in May 2020. However, the number of transactions via PPI fell 9% YoY, from 389.8 million in June 2019, according to data from the Reserve Bank of India (RBI). The rise follows a major slump in both number of transactions and amount transacted in April, when the entire country was under a nationwide lockdown imposed to prevent the spread of COVID-19. The amount transacted grew 13.2% month-on-month to Rs 14,494 crores from Rs 12,808 crores, but decreased 18% year-on-year from Rs 17,764 crores. The highest number of transactions recorded 523.7 million transactions in January 2020, and the highest amount transacted was Rs 22,128…

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