Payments News


Mobile wallet transactions hit new peak in October: RBI

“Transactions through mobile wallets hit an all-time high in October, both in terms of value and volume. Around 368.45 million transactions worth Rs 18,786 crore took place in October, compared with 324.16 million transactions amounting to Rs 15,102 crore in September, according to data released on Thursday by the Reserve Bank of India (RBI). The second highest volume of transactions (340.65 million) was recorded in August. The record transactions come at a time when most of the wallet companies are not able to on-board new customers through Aadhaar based e-KYC (electronic know your customer) norms over the last two months.”