The immediate payment service of India, launched in 2010, reached 59.2M mobile users in April 2014 (+19.3% y-o-y growth). 60 banks have already signed for the service while 71.22% of mobile users came from top five banks. The amount of transactions saw an 8.5x increase from April 2013, while transaction volume was 12.2 times higher. The average transaction increased 38% y-o-y. Some of the metrics saw a growth deceleration compared with previous month.
“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.