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PhonePe logs $388 billion in annual TPV run rate, crosses 1-billion UPI transactions in March PhonePe logs $388 billion in annual TPV run rate, crosses 1-billion UPI transactions in March Fintech major PhonePe on Thursday said it has hit an annual total payment value (TPV) run rate of USD 388 billion dollars in March this year. The company, which competes with players like Paytm and Google Pay in the Indian digital payments market, said it has crossed the one-billion mark in terms of UPI transactions in the month of March. "We crossed a billion UPI transactions in March, while our total tra...

Advertisement Over the past one year, UPI has seen exponential growth and taking home the biggest shares in the market are players like PhonePe, Paytm and Google Pay. But the growing numbers also come at a time when the National Payments Corporation of India (NPCI) is looking to cap each company’s market share in UPI. According to the NPCI’s official statement, UPI transactions on third party payment apps cannot exceed 30% of the overall volume of transactions processed in UPI during the preceding three months. While the cap will be effective from January 1, 2021, existing third par...

The company, which competes with players like Paytm and Google Pay in the Indian digital payments market, said it has crossed the one-billion mark in terms of UPI transactions in the month of March.

At present, the current policy of the payments app of Google does not encourage the tech behemoth to sell transaction data to third-party services or sharing it with other Google services for targeted advertisements. Ambarish Kenghe, vice president-product, Google Pay, in a blog post, said: “We know that safety and privacy are paramount for payments products and services, and people want more control and transparency on how their transaction data is used ... ... Your personal information is never sold to anyone and your transaction history is not shared with any other Google product for tar...

We'll soon meet in your inbox. Please wait... For individual users, a new toggle will be introduced that will allow them, for instance, to delete their last 10 Unified Payments Interface (UPI) or tokenised card transactions if they don’t want these to be accessed by Google. Credit (or debit) card tokenisation is the process of completely removing sensitive data from a company's internal network and replacing it with a random, unique placeholder called a token. For instance, a card number with the number 1234 5678 8765 4321 would end up looking something like E67TY8GQ27X. Apart from UPI, Goo...