Moneycontrol PRO
you are here: HomeNewsTrends

Over 50% of Indians opted for online mobile recharges in 2020 due to Covid-19 pandemic

Payment gateways and fintech companies also acknowledged a 55-75 percent increase in mobile recharge transactions.

January 02, 2021 / 02:51 PM IST
Representative Image

Representative Image

Over 50 percent of mobile recharges in India were completed online in 2020 as people refrained from moving out of their homes due to the coronavirus pandemic and the trend is likely to continue, according to a report by The Economic Times.

For the first time, Bharti Airtel in 2020 saw 50 percent of its recharge revenue coming from online and digital platforms, the report added.

Further, payment gateways and fintech companies also acknowledged a 55-75 percent increase in mobile recharge transactions.

Google said searches on “how to pay online” and “UPI” surged by 30 percent during the lockdown, with “how to pay electricity bill online” seeing 180 percent increased interest. As such Google Pay had many first-time users choose digital payment methods.

Follow our LIVE Updates on the coronavirus pandemic here


COVID-19 Vaccine

Frequently Asked Questions

View more
How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

How many types of vaccines are there?

There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

What does it take to develop a vaccine of this kind?

Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.

View more

“We saw a significant surge in these use-cases on Google Pay, confirming this trend,” a Google spokesperson told the paper.

PhonePe saw a 55 percent growth year-on-year (YoY) (December 2019 to December 2020 since the COVID-19 lockdown) in recharge transactions, a spokesperson told the paper, adding that this has continued post lifting of the lockdown, which suggests a “permanent” shift in customer habits.

PhonePe added that besides increased transaction volume, the average transaction size also increased by 20 percent YoY – largely due to customers opting for unlimited plans during the lockdown,” it said.

Check here for the latest updates on all COVID-19 vaccines

Infibeam Avenues’ executive director Vishwas Patel said transactions on CC Avenue payment gateway platform increased 75 percent against per-COVID lockdown quarters. He added that the average transaction value for prepaid recharges stayed around Rs 126 and jumped above Rs 500 for post-paid subscribers – largely due to increased data needs amid work-from-home.

Spice Money’s Dilip Modi said mobile recharge transaction volumes and value of transactions from semi-urban and rural areas – which contribute 80 percent of gross transaction volumes on the platform grew 100 percent between April and December 2020. He expects the growth to continue into the coming quarter of FY21.

Follow our full COVID-19 coverage here
Moneycontrol News
first published: Jan 2, 2021 02:51 pm

stay updated

Get Daily News on your Browser
ISO 27001 - BSI Assurance Mark