India’s Prepaid and Mobile Wallet Markets Keep Growing
Consumers in India made 18.29 million prepaid transactions in June, down 11 percent from 20.60 million in May but up nearly 127 percent from 8.06 in June 2015, according to figures from the Reserve Bank of India. The total prepaid transactions in June 2016 topped $342.7 million, up from approximately $252.6 million in June 2015.
The central banks’ figures also show gains for mobile wallets: Transactions increased to 58.63 million in June, up 16.5 percent from the month before and 24 percent from June 2015. The amount of mobile wallet transactions increased 14 percent in June compared to the prior month and up 119 percent compared with June 2015.
The Reserve Bank also said that:
- The average prepaid transaction amount stands at approximately $19
- The average mobile wallet transaction stands at approximately $7.