Mobile banking shows rise, but not mobile wallets

Volume in mobile banking for all banks in April, May, June stood at 106.27 mn, 114.26 mn, 115.73 mn

More and more people are using their mobile phones to transact, show data for all banks released by the Reserve Bank of India (RBI) for the month of June.

 

Volume in mobile banking for all banks in April, May and June stood at 106.27 million, 114.26 million and 115.73 million respectively, even as value in the three months showed mixed trend, registering Rs 1,61,265 crore, Rs 2,13,420 crore and Rs 1,80,765 crore, respectively.

 

However, prepaid instruments, such as mobile wallets and prepaid cards, showed a steady decline in these three months.