UPI
Google Pay and PhonePe most used online payment platform in India
Mumbai/IBNS: Online payment platforms Google Pay and PhonePe managed to grab a lion's share of the unified payments interface (UPI) market in India accounting for 81 per cent market, according to data issued for October by National Payments Corporation of India (NPCI).
Google Pay accounted for 857.81 million transactions worth1,65,654.71 crore was at the top followed by PhonePe with 839.88 million transactions worth 1,68,085.06 crore.
According to NPCI data, WhatsApp accounted only 70,000 transactions worth Rs 9.32 crore.
PayTM Payments Bank and Amazon remained far behind with 244.94 million transactions equal to Rs 27,489.33 crore in value and 46.59 million transactions worth Rs 3,854.49 in value.
The data revealed that both PayTM and Amazon lost market share between September and October.
In September, Google Pay saw 751.61 million transactions (Rs 1,46,414.83 crore) and PhonePe 688.32 million transactions (Rs 1,37,819.43 crore), Amazon Pay had 81.7 million transactions (Rs 3,613.83 crore) and PayTM had 208.33 million transactions (Rs 23,353.91 crore).
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
