PhonePe Surpasses Google Pay to Become Leading UPI App in December, NPCI Data Reveals
PhonePe has seen over 3.87 percent increase in UPI transaction volume and 3.8 percent spike in transaction value in December, according to the NPCI data. By Jagmeet Singh | Updated: 19 January 2021 17:31 IST
PhonePe and Google Pay account for more than 78 percent of the total UPI transactions in December
Highlights
Google Pay saw a dip of over 11 percent in transaction volume
UPI transactions via WhatsApp grew 161 percent in December
PhonePe, the digital payments platform owned by Walmart, has surpassed Google Pay and emerged as the top unified payments interface (UPI) app in December. The platform processed 902.03 million transactions accounting for Rs. 1,82,126.88 crores in total, according to the latest data released by the National Payments Corporation of India (NPCI). Google Pay, on the other hand, has dropped to the second position with 854.49 million t
January 19, 2021
While PhonePe continues to dominate the Unified Payments Interface (UPI) market, beating Google Pay for three months in a row, WhatsApp Pay’s UPI market share has slowly inched up, according to data from the National Payments Corporation of India for the month of December 2020.
While PhonePe processed 902 million transactions worth over ₹1.82 lakh crore in December, Google Pay processed over 854 million transactions worth ₹1.76 lakh crore during the same month. In November, PhonePe processed 868 million UPI transactions worth over ₹1.75 lakh crore compared to Google Pay’s 960 million transactions worth ₹1.61 lakh crore.
As of December, PhonePe had a market share of 40.4% in volume terms and 43.8% in value terms compared to 39.3% and 44.9%, respectively, in the previous month. In comparison, Google Pay’s UPI market share has slipped to 38% in volume terms and 42% in value terms in the month of December compared to 43.4% and 41.3% respectively, in the
Walmart-backed PhonePe has emerged the top unified payments interface (UPI) application (app) in December, with 902.03 million transactions accounting for Rs 1.82 trillion, followed by Google Pay with 854.49 million transactions worth Rs 1.76 trillion, thus, controlling the lion’s share of the UPI market, according to the data by National Payments Corporation of India (NPCI).
Google Pay has seen 11 per cent fall in transaction volume in December, compared to November. In November, Google Pay had seen 960.02 million transactions accounting for Rs 1.61 trillion, followed by PhonePe, with 868.4 million transactions worth Rs 1.75 trillion. According to the October data, Google Pay accounted for 857.81 million transactions, while PhonePe came in second, with 839.88 million transactions.
WhatsApp Pay processed 0.81 million UPI transactions worth Rs 29.72 crore, an over 100% increase in both volume and value compared to November, NPCI data shows.
Paytm Payments Bank leads market with 6 million FASTags
January 11, 2021
PPBL has now enabled cashless toll payments across 250 plazas in the country Paytm Payments Bank Ltd (PPBL) on Monday announced that it is the leading issuer of FASTag in the country with over 6 million FASTags, as more citizens avail the service with the government extending the deadline for its adoption.
Paytm FASTag has gained popularity amongst users in the country due to its seamless onboarding and integration process which requires minimum documentation, instant activation and unmatched customer care support. PPBL has now enabled cashless toll payments across 250 plazas in the country, a statement issued by PPBL said.