PhonePe Broadens Hole for Google Pay in UPI Transactions, NPCI Information Presentations
PhonePe has persevered to dominate the Unified Bills Interface (UPI) app ecosystem in India and expanded its marketplace percentage to 46.04 p.c in June, in keeping with the information launched via the Nationwide Bills Company of India (NPCI). The Walmart-owned platform noticed a zero.77 p.c build up in its percentage over the 45.28 p.c reported in Might relating to transactional quantity of all 50 apps (ensuing 2,807.51 million transactions). The expansion of PhonePe has pressured Google Pay to proceed to take a seat on the second one place, which it first gained in December after dropping its management to PhonePe.
The knowledge posted via the NPCI presentations that PhonePe carried 1,292.71 million transactions price Rs. 2,62,565.88 crores in June that had been 142.87 million extra from the 1,149.84 million it made in Might, that have been price Rs. 2,34,123.57 crores. The rise within the transaction quantity helped the platform not to simply proceed its lead but additionally expand the distance for Google Pay.
Compared to PhonePe, Google Pay noticed a marginal drop of 0.04 p.c in its percentage in June that got here to 34.63 p.c, down from 34.67 p.c in Might. The NPCI statistics display that the Google platform initiated 972.26 million transactions of price Rs. 2,07,287.73 crores within the month — appearing an build up of 91.67 million from 880.59 million transactions price Rs. 1,87,136.95 crores recorded in Might.
Paytm Bills Financial institution got here 3rd with 326.53 million customer-initiated transactions price Rs. 40,614.09 crores. It noticed a zero.18 p.c build up in its marketplace percentage of 11.63 p.c from 11.45 p.c reported within the month previous.
After Paytm Bills Financial institution, Amazon Pay stood fourth with 51.34 million transactions price Rs. 4,814.74 crores. Sure Financial institution apps and the federal government’s BHIM UPI app got here on the 5th and 6th positions, respectively. Sure Financial institution captured 24.72 p.c percentage with a transaction quantity of Rs. 5,227.04 crores, whilst BHIM’s marketplace percentage got here at 22.84 p.c with transactions price Rs. 7,319.77 crores.
Best 5 UPI apps in June (as consistent with the NPCI information)
| Platform | Transactions in Might (in million) | Transactions in June (in million) | Exchange in transaction quantity (in million) | Marketplace percentage (relating to transaction quantity) |
|---|---|---|---|---|
| PhonePe | 1149.84 | 1292.71 | 142.87 | 46.04% |
| Google Pay | 880.59 | 972.26 | 91.67 | 34.63% |
| Paytm Bills Financial institution | 290.69 | 326.53 | 35.84 | 11.63% |
| Amazon Pay | 58.35 | 51.34 | -7.01 | 1.83% |
| Sure Financial institution apps | 21.08 | 24.72 | 3.64 | 0.88% |
Curiously, the information supplied via NPCI presentations that WhatsApp Pay, the bills carrier introduced ultimate yr via the Fb-owned corporate, noticed a decline in each its transaction quantity and price. The app, on the other hand, maintained its 0.02 p.c of marketplace percentage.
UPI transactions general within the nation grew 10.55 p.c to two,807.51 million in June that had been price Rs. 5,47,373.17 crores.
