08 August 2018

Mobile Wallet Transactions Hit Record Rs14,632 crore in June: RBI Data

Mobile Wallet Transactions Hit Record Rs14,632 crore in June: RBI Data


The value of transactions made through mobile wallets touched a record Rs14,632 crore in June, according to the Reserve Bank of India (RBI) data. The data showed the rise of 4.2% from Rs14,047 crore in May. 

However, the number of transactions fell around 5% to 309.62 million in June after reaching an all-time high of 325.41 million in May. The record transaction value shows wallet companies, which were struggling to set up compliance infrastructure and convince users to provide know-your-customer (KYC) documents, have survived the storm and signed up new customers.

Source- The Livemint

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