Phone Pe, Google Pay accounts for lion's share in UPI transactions
By MYBRANDBOOK
Google Pay and PhonePe together have a lion's share of more than 80 percent of Unified Payments Interface (UPI) market. The two apps makeup about 81 percent of the market, and accounted for 86 percent of the UPI transactions value in October as per the report, citing NPCI data.
UPI transactions worth Rs 1,65,654.71 crore were done through Google Pay in October, the report said. Rs 1,68,085.06 crore worth of transactions were carried through PhonePeAmazon Pay recorded 46.59 million transactions (worth Rs 3,854.49 in value) in October. Paytm, with a 11 percent market share, had 244.94 million UPI transactions (worth Rs 27,489.33 crore), the report added.
The NPCI in November imposed a 30 percent cap on the total volume of UPI transactions by a third-party app. Existing third-party apps will be given two years, starting from January 1, 2021, to comply with the norms.
Launched in 2016, UPI crossed 1 billion transactions for the first time in October 2019. While it took UPI three years to reach 1 billion transactions in a month, the next 1 billion came in under a year.
BREAKING NEWS
TECHNO TRENDS
Legal Battle Over IT Act Intensifies Amid Musk’s India Plans
The outcome of the legal dispute between X Corp and the Indian government c...
Wipro inks 10-year deal with Phoenix Group's ReAssure UK worth
The agreement, executed through Wipro and its 100% subsidiary,...
Centre announces that DPDP Rules nearing Finalisation by April
The government seeks to refine the rules for robust data protection, ensuri...
Home Ministry cracks down on PoS agents in digital arrest scam
Digital arrest scams are a growing cybercrime where victims are coerced or ...
E-Magazine
TECHNOTAINMENT
Hrithik Roshan to endorse RuPay as Brand Ambassador
RuPay is reportedly planning to feature Bollywood superstar Hrithik Rosha
India Today Group launches – AI Pop Stars
Staying true to our industry leadership position in using cutting-edge tech
MOVERS & SHAKERS
TelioLabs ropes in Phaniraj V A as the Group CEO
TelioLabs has announced the onboarding of Phaniraj V A as its new Group CE
Wipro Appoints Amit Kumar as Managing Partner and Global Head
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology s
OPEN YOUR EYES
INTERVIEWS
Acer addresses evolving customer needs by consistently pushing
Acer offers a comprehensive range of products under one roof, including des
Delivering Critical Business Communication Solutions to Enterp
Arya Omnitalk and Syntel’s comprehensive suite of solutions and more than
HOT PICK
MSI Announces the availability of RTX 50 series of laptops in
MSI, the innovative computing manufacturer in gaming, creator
Nothing Phone (3a) goes on sale today, starting at Rs 19,999
The phone was launched on March 4, featuring a 50MP main, ultra-wide, and t
MAKE IN INDIA BRANDS
LAVA INTERNATIONAL LTD.
MATRIX COMSEC PVT. LTD.
LUMINOUS POWER TECHNOLOGIES PVT. LTD.
MICROTEK INTERNATIONAL PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
ICONS OF INDIA : SHAILENDER KUMAR
Shailender Kumar is senior vice president and regional managing direct...
SHAKTIKANTA DAS
Shaktikanta Das is serving as the current & 25th governor of the Reser...
Icons Of India : AALOK KUMAR
Aalok Kumar is celebrated as a global leader and recipient of the Peop...
PARTNER SPEAKERS
PSU
CERT-IN - Indian Computer Emergency Response Team
CERT-In is a national nodal agency for responding to computer security...
TCIL - Telecommunications Consultants India Limited
TCIL is a government-owned engineering and consultancy company...
HPCL - Hindustan Petroleum Corporation Ltd.
HPCL is an integrated oil and gas company involved in refining, market...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - NEAL MOHAN, CEO - Youtube
Neal Mohan, the CEO of YouTube, has a bold vision for the platform’s...
Indian Tech Talent Excelling The Tech World - Sanjay Mehrotra, CEO- Micron Technology
Sanjay Mehrotra, the President and CEO of Micron Technology, is at the...
Indian Tech Talent Excelling The Tech World - Vinod Dham, Founder & Executive Managing Partner, IndoUS Venture Partners
Vinod Dham, known as the “Father of the Pentium Chip,” has left an...
ITFORUM 2025
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
of images belongs to the respective copyright holders
