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国际资讯基于互联网平台的金融业务

取消大额钞票2年后,印度电子支付行业的5个显著变化

国际资讯基于互联网平台的金融业务

取消大额钞票2年后,印度电子支付行业的5个显著变化

两年前,印度总理纳伦德拉·莫迪(Narendra Modi)采取了一项取消500卢比、1000卢比大面额钞票的举措,印度全国上下一片哗然。

市民纷纷在银行门前排起长龙,等着存入旧钞,换取新币,而电子支付行业却迎来了巨大的机遇。就在总理宣布取消大面值纸钞之后,专家告诉印度媒体 YourStory:印度的电子支付将会猛增,接下来两个月,轻而易举就能翻一番。

情况确实如此。

两年后,印度央行(RBI)发布的年度报告称,2017至2018年度,所有的付款与结算系统,如NEFT、IMPS、UPI、NACH、持卡付款(card payments)、电子结算系统(Electronic Clearing Systems),其体量均增长44.6%,资金转账价值增长11.9%。

此外,RBI 在报告中表明,2016至2017财年,电子支付系统交易量增长56%,资金价值增长24.8%。

2017至2018年度,包括持卡付款(card payments)、UPI 及其他系统在内,电子零售支付交易比例从上一年度的88.9%增长至92.6%。

RBI透露,纸钞结算方式的份额从2016至2017年度的11.1%跌至2017至2018年度的7.4%,显示了电子支付的强劲趋势。

取消大钞后,借记卡增势渐缓

2016至2017财年,信用卡和借记卡总量增长了将近29%,但这一增势却没能延续到下一财政年度。2018财年,银行卡增速暴跌,仅为1.5%,全国约有9亿张银行卡。

这要归因于大钞取消后,借记卡增速缓慢;2017至2018财年增速不足1%。信用卡年均增速维持在20%。

如今,借记卡增速有所回升,截至本财年8月份,增速回升至13.6%。截至2018年8月,全国共有10.2亿张信用卡与借记卡。

电子承兑设施增加

据 RBI 透露,取消大钞后,电子承兑设备也有所增长,POS 机从2016至2017年度的253万台增加到2017至2018年的308万台,增长24%。同一时期,银行布置的 ATM 数量却小幅下降,从222475台降至222247台。

当前,全国共有10.2亿张信用卡与借记卡,然而却仅有330万台 POS 设备、228422台 ATM,由此可见,电子设备仍有待扩建。

这也就意味着每3.09亿张银行卡,仅有一台 POS 机作为承兑点。

UPI——真正的赢家

统一付款接口(UPI)才是电子支付行业的真正赢家。

RBI 透露,尽管总理莫迪力荐可以在 UPI 设施上运行电子支付软件 BHIM,但2017财政年度,UPI 支付总量却高达1790万笔。同一时期,转账金额高达9.6亿美元。

2017至2018年度,诸如 Google、Paytm 及其他私有企业采用 UPI 之后,交易量更是激增了不止50倍。2018财政年度,UPI 交易总量高达9.152亿笔,转账总额高达153亿美元。

印度国家支付公司(NPCI)的数据表明,本年度8个月之内,UPI 的全国交易量就突破了20亿大关,转账总额为479亿美元。

持卡消费

根据 RBI 的数据,2016至2017财年,信用卡与借记卡通过 POS 机的交易量翻了一番。2017财政年度,全国持卡交易总量为54亿,而2016年度仅为27亿。

这意味着越来越多的人在持卡消费。

然而,2018财年的增速却有所下降。但即便如此,使用 POS 机持卡消费还是增长了50%,总交易量为82亿,仍然呈上升趋势。

此外,POS 机的平均单项交易规模也有所下降。2016财年为23.1美元,2017财年为18.9美元,而2018财年 POS 机平均单项交易规模仅为17.9美元。

取款限制确实反映在数字上

取消大钞后,莫迪政府决定每日取款限额27.7美元,2017财年的取款总额体现出了这一决定。2017财年 ATM 取款总额为3314亿美元,相比于2016财政年度的3506亿美元,下降了6个百分点。而2016至2017财政年度,取款交易总额增长了6个百分点。

与上一财年相比,2018年取款量并无太大变化。然而,相比之下,ATM 取款值却增加了22%,高达407亿美元。

Two years ago, Prime Minister Narendra Modi put the entire nation in a frenzy. In one stroke, the government made Rs 500 and Rs 1,000 denomination notes invalid, leaving the country of 1.3 billion in a limbo.

As citizens queued up outside banks to deposit old currency notes in exchange for new ones, the digital payments ecosystem saw a huge opportunity open up. Right after the prime minister announced the ban on high-value currency notes, experts told YourStory that digital payments in the country will rise sharply and could easily double over the next couple of months.

And they did!

Two years later, the Reserve Bank of India (RBI) in its annual report said all payment and settlement systems - NEFT, IMPS, UPI, NACH, card payments, Electronic Clearing Systems as well as Forex and market clearing systems – have seen a 44.6 percent increase in volume in 2017-18 and an 11.9 percent increase in the value of funds transferred.

In the annual report, RBI also said that during the financial year 2016-17, the volume of transactions through digital payment systems witnessed a 56 percent increase, with the value of funds increasing by 24.8 percent.

Transactions across the digital retail payment infrastructure, which includes card payments, UPI and others increased to 92.6 percent in 2017-18, up from 88.9 percent in the previous year.

The RBI also said the share of paper-based clearing instruments reduced from 11.1 percent in 2016-17 to 7.4 percent in 2017-18, showing a strong trend in favour of digital payments.

Growth of debit cards stalled after Demonetisation

From FY16 to FY17, the total number of credit and debit cards grew by almost 29 percent, but this trend didn’t quite sustain in the next financial year. Card growth fell sharply in FY18, growing at 1.5 percent, with total physical cards in the country standing at almost 900 million.

This can be attributed to the slow growth of debit cards post demonetisation, which showed less than 1 percent growth between FY17 and FY18. Credit cards maintained an average 20 percent increase year-on-year.

Debit card growth in the country is now back on track, having grown 13.6 percent as of August this financial year. As of August 2018, there were a total of 1.02 billion credit and debit cards in the country.

Acceptance of digital infrastructure

Acceptance of digital infrastructure has grown since demonetisation with the number of Point of Sale (POS) terminals increasing by 24 percent from 2.53 million in 2016-17 to 3.08 million in 2017-18, according to the RBI. During the same period, the number of ATMs deployed by banks witnessed a marginal decline from 222,475 to 222,247.

The digital infrastructure still needs to expand as currently, for a total 1.02 billion credit and debit cards in the country, there are only 3.3 million PoS devices and only 228,422 ATMs.

That means for every 309 million cards in the country there is one PoS machine available as an acceptance point.

UPI – the real winner

When it comes to digital payments, Unified Payments Interface has been the real winner.

Despite Prime Minister Narendra Modi pushing digital payments app BHIM which runs on the UPI infrastructure, the total volume of UPI payments stood at 17.9 million in FY17. And the value of funds transferred for the same period, stood at Rs 6,900 crore, according to the RBI.

In 2017-18, after the adoption of UPI by private players like Google, Paytm and others, the total number of transactions skyrocketed by more than 5,000 percent. In FY18, the total number of UPI transactions stood at 915.2 million and total funds transferred on the service stood at Rs 1.09 lakh crore.

Within eight months of this year, according to data from National Payments Corporation of India (NPCI), UPI transactions in the country have already crossed the 2 billion mark with a total Rs 3.42 lakh crore being transferred.

Purchases through physical cards

According to RBI data, credit and debit card transactions on PoS devices doubled between FY16 and FY17. The total number of card transactions in the country stood at 5.4 billion in FY17, up from 2.7 billion transactions in FY16.

This means that more people made purchases using their cards.

In FY18, however, this growth rate slowed down. Nonetheless, the upward trend continued as card payments on PoS devices were up by 50 percent, with total volume of transactions at 8.2 billion.

Further, even the average ticket size transacted on PoS devices has come down. Average transaction stood at Rs 1,361 for FY17 from Rs 1,666 in FY16. In FY18, the average ticket size of purchases made through PoS devices stood at Rs 1,292.

Curb on withdrawals does show in numbers

The Modi government’s decision to curb withdrawal to Rs 2,000 a day post demonetisation also reflected in the total value of cash withdrawn in FY17. The total value of cash withdrawn from ATMs stood at Rs 23.63 lakh crore in FY17, down 6 percent from Rs 25 lakh crore in FY16. Simultaneously, the total cash withdrawal transactions grew by 6 percent between FY16 and FY17.

As of FY18, there isn’t much change in the number of cash withdrawals when compared to the last fiscal. However, the value of cash withdrawn from ATMs has grown by 22 percent in FY18 when compared with the last fiscal last year, and stood at Rs 2.9 lakh crore for the year.

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