MUMBAI: More Indians used their mobile phones to make payments and to transfer funds in June, than in any previous month since the Reserve Bank of India started recording such data in July 2011. A total of 1.66 billion transactions worth Rs 5.99 lakh crore were processed by various mobile-based banking and payment applications in June, at a time when most bank branches were either shuttered or operating with reduced strength, according to the latest RBI data.

Volume and value of transactions in June is significantly higher than mobile transactions recorded in February — before the pandemic — when 1.42 billion transactions worth Rs 5.25 lakh crore were processed.

The previous record for most mobile banking transactions in a month was in July 2019, when 1.17 billion transactions worth Rs 5.33 lakh crore were processed, the central bank data showed.

These transactions include those made through mobile apps such as Google Pay<\/a> and PhonePe<\/a> under the Unified Payments Interface (UPI<\/a>) railroad, Paytm and Amazon Pay for e-wallets and banking apps such as SBI Yono and Kotak 811, among others.

According to experts, the data reflects the increased dependence of Indians on smartphone-based payment solutions, which are by nature contactless and in line with the new hygiene and social distancing protocols.

Transaction volumes on traditional payment channels, such as those through debit, credit and net banking instruments, were subdued in June due to muted commercial activity and is reflected in the central bank data as well.

“UPI payments have grown while debit card payments are down. There is a marked increase in mobile account to account (A2A) payments adoption, which has been sustaining over several months,” said Vijay Mani, partner, Deloitte India.

\"\"
<\/span><\/figcaption><\/figure>
In June, only 430 million card transactions worth Rs 1.05 lakh crore were processed both on debit and credit instruments issued by banks.

Separately, experts said new categories of spending on smartphones — such as monthly bills and domestic wages — at a time when stepping out was seen as risky, could have also led to the surge. “It was the perfect solution for users,” said Shilpa M Ahluwalia, partner – fintech, at law firm Shardul Amarchand Mangaldas. “With most people avoiding visits to bank branches and ATMs, mobile phones would have become the most convenient channel to pay for essential goods and services.”

Meanwhile, most leading digital payment firms such as Google Pay, Paytm and PhonePe have told ET that new customer additions on their platforms rose significantly than during the pre-Covid-19 months.

Experts said the meteoric growth and adoption of channels monitored by the National Payments Corp of India such as UPI, and increased convenience of using smartphone-based payments could result in the trend continuing in the months ahead.

“That increases likelihood of stickiness. It is interesting that economic contraction has affected card payments, but not mobile A2A. These are mostly remittances, but also have a significant merchant payment share,” Mani added.

Transaction volumes on the channel in July and August, too, have recorded new highs, indicating that the trend towards smartphone-based payments is likely to stay.
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6月手机应用程序事务6十万的卢比

体积和价值的交易明显高于6月移动交易记录在14.2亿年2月——在大流行——当交易价值十万的5.25卢比被处理。

Ashwin Manikandan
  • 更新2020年9月16日08:51点坚持
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孟买:更多的印度人使用手机支付和资金转移,6月比前一个月以来,印度央行(Reserve Bank of India)在2011年7月开始记录这些数据。总共16.6亿次交易价值十万的5.99卢比被各种手机银行和付款应用程序处理,6月的时候大多数银行分支机构被关闭或操作强度降低,根据央行的最新数据。

体积和价值的交易明显高于6月移动交易记录在14.2亿年2月——在大流行——当交易价值十万的5.25卢比被处理。

广告
大多数手机银行交易纪录的一个月是2019年7月,价值十万的5.33卢比11.7亿个事务处理时,央行数据显示。

这些交易包括通过移动应用等谷歌支付PhonePe在统一的支付接口(UPI)铁路,Paytm和亚马逊支付电子钱包和印度国家银行等银行业应用Yono 811年科塔克,等等。

根据专家,分享服务数据反映了印度人的依赖增加支付解决方案,自然非接触式和符合卫生和社会距离的新协议。

交易量在传统支付渠道,比如通过借记卡、信用卡和网上银行仪器,由于6月就被制伏柔和的商业活动和反映在中央银行数据。

“UPI支付增长而借记卡支付。手机账户,账户有显著增加(负责支付采用,已经持续了几个月,”维贾伊玛尼说,伙伴,德勤印度。


今年6月,只有4.3亿卡交易价值十万的1.05卢比加工都在银行发行的借记卡和信贷工具。

另外,专家表示,智能手机新类别的支出,如每月的账单和国内工资——走出的时候被视为风险,也可以导致飙升。“这是用户的完美的解决方案,”希尔帕米阿卢瓦利亚说,合作伙伴——fintech律师事务所律师事务所Amarchand Mangaldas Shardul。“与大多数人避免访问银行分支机构和自动取款机,手机将成为最方便的渠道来支付基本商品和服务。”

广告
同时,最领先的数字付款谷歌等公司支付,Paytm PhonePe告诉ET,新客户增加他们的平台上明显比pre-Covid-19个月上升。

专家说的迅速增长和采用渠道监控由国家支付印度公司如UPI、分享服务和增加使用的便利支付可能导致这种趋势在未来几个月继续。

“增加粘性的可能性。有趣的是,经济衰退影响了信用卡支付,但不移动,负责。这些大多是汇款,但也有一个明显的商人支付份额,”摩尼补充道。

交易量频道7月和8月,也记录了新高,表明分享服务支付的趋势可能会留下来。

  • 发布于2020年9月16日08:51点坚持
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MUMBAI: More Indians used their mobile phones to make payments and to transfer funds in June, than in any previous month since the Reserve Bank of India started recording such data in July 2011. A total of 1.66 billion transactions worth Rs 5.99 lakh crore were processed by various mobile-based banking and payment applications in June, at a time when most bank branches were either shuttered or operating with reduced strength, according to the latest RBI data.

Volume and value of transactions in June is significantly higher than mobile transactions recorded in February — before the pandemic — when 1.42 billion transactions worth Rs 5.25 lakh crore were processed.

The previous record for most mobile banking transactions in a month was in July 2019, when 1.17 billion transactions worth Rs 5.33 lakh crore were processed, the central bank data showed.

These transactions include those made through mobile apps such as Google Pay<\/a> and PhonePe<\/a> under the Unified Payments Interface (UPI<\/a>) railroad, Paytm and Amazon Pay for e-wallets and banking apps such as SBI Yono and Kotak 811, among others.

According to experts, the data reflects the increased dependence of Indians on smartphone-based payment solutions, which are by nature contactless and in line with the new hygiene and social distancing protocols.

Transaction volumes on traditional payment channels, such as those through debit, credit and net banking instruments, were subdued in June due to muted commercial activity and is reflected in the central bank data as well.

“UPI payments have grown while debit card payments are down. There is a marked increase in mobile account to account (A2A) payments adoption, which has been sustaining over several months,” said Vijay Mani, partner, Deloitte India.

\"\"
<\/span><\/figcaption><\/figure>
In June, only 430 million card transactions worth Rs 1.05 lakh crore were processed both on debit and credit instruments issued by banks.

Separately, experts said new categories of spending on smartphones — such as monthly bills and domestic wages — at a time when stepping out was seen as risky, could have also led to the surge. “It was the perfect solution for users,” said Shilpa M Ahluwalia, partner – fintech, at law firm Shardul Amarchand Mangaldas. “With most people avoiding visits to bank branches and ATMs, mobile phones would have become the most convenient channel to pay for essential goods and services.”

Meanwhile, most leading digital payment firms such as Google Pay, Paytm and PhonePe have told ET that new customer additions on their platforms rose significantly than during the pre-Covid-19 months.

Experts said the meteoric growth and adoption of channels monitored by the National Payments Corp of India such as UPI, and increased convenience of using smartphone-based payments could result in the trend continuing in the months ahead.

“That increases likelihood of stickiness. It is interesting that economic contraction has affected card payments, but not mobile A2A. These are mostly remittances, but also have a significant merchant payment share,” Mani added.

Transaction volumes on the channel in July and August, too, have recorded new highs, indicating that the trend towards smartphone-based payments is likely to stay.
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