Chart: Transactions Vs Amount Using Mobile Banking In India During Aug 2011- Oct 2012
The number of transactions using mobile banking in India has increased by 123.9% while the amount has increased by 470.88% taking into consideration the period from from August 2011 and October 2012.
Note that we had previously reported that the number of transactions using mobile banking in India had increased by 68.86% while the amount had increased by 102.65% taking into consideration the period from August 2011 to May 2012. Taking this into account, the number of transactions has increased by 32.58% for the period between May 2012 to October 2012 while the amount has increased by 171.88% during the same period.
The average amount per transaction stood at Rs 1755.66, more than double of Rs 731.83 reported in May 2012, though we believe that the transaction information shared by the RBI with us includes both payment and non payment related transactions.
Some Observations -
- As of October 2012, the total number of mobile banking transactions stood at 44,37,342 while the amount transacted was at Rs 77904.72 lakhs. In comparison, the total number of mobile banking transactions was at 33,46,743 while the amount transacted was at Rs 28,654.54 lakhs as of May 2012.
- There was a significant jump in October 2012 from September 2012, with respect to both the number of transactions and the amount transacted. While the number of transactions increased by 13.85% during the month, the amount transacted increased by 89.8% during the same period.
- There was another significant jump in March 2012 from February 2012, with respect to both the number of transactions and the amount transacted. While the number of transactions increased by 11.55% during the month, the amount transacted increased by 18.61% during the same period.
- August 2011 saw Rs 13646.43 lakhs being transacted – the lowest amount transacted during this period, while October 2012 saw Rs 77904.72 lakhs being transacted – the maximum amount being transacted during this period.
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