Wednesday, September 8, 2021

Auto debit payment failures ease in August, shows NPCI data

 In volume terms, 32.98% of transactions initiated declined, 26.82% in value terms


Auto debit payment bounces decreased further in August, but only just, indicating a gradual return to normalcy after the second wave of the pandemic.

Data released by the National Payments Corporation of India (NPCI) shows that of the 87.68 million transactions initiated in August, 32.98 per cent or 28.92 million transactions failed. In value terms, 26.82 per cent of the transactions were declined in August, the lowest since the pandemic’s outbreak.

In July, the number of unsuccessful requests through the National Automated Clearing House (NACH) had declined, reversing a three-month trend of increases that started with the outbreak of the second wave.

Anil Gupta, vice-president of ICRA, said: “Although the bounce rates have declined both in volume and value terms, they are still higher than the pre-pandemic levels. Having said that, things are definitely looking good and this trend should further improve in September”.

Auto debit payment bounces decreased further in August, but only just, indicating a gradual return to normalcy after the second wave of the pandemic.

Data released by the National Payments Corporation of India (NPCI) shows that of the 87.68 million transactions initiated in August, 32.98 per cent or 28.92 million transactions failed. In value terms, 26.82 per cent of the transactions were declined in August, the lowest since the pandemic’s outbreak.

In July, the number of unsuccessful requests through the National Automated Clearing House (NACH) had declined, reversing a three-month trend of increases that started with the outbreak of the second wave.

Anil Gupta, vice-president of ICRA, said: “Although the bounce rates have declined both in volume and value terms, they are still higher than the pre-pandemic levels. Having said that, things are definitely looking good and this trend should further improve in September”.

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