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Gpay, Phone Pe account for 82% of UPI market

December 08, 2020

Gpay, Phone Pe account for 82% of UPI market

Walmart-supported PhonePe and Google-sponsored Google Pay have a lot of the bound unified payments interface (UPI) market.

As indicated by the information delivered by the National Payments Corporation of India (NPCI), Google Pay and PhonePe together have more than 82 percent of the market by volume and more than 86 percent by esteem.

In November, Google Pay had done 960.02 million exchanges, representing ₹1.61 trillion, trailed by PhonePe, with 868.4 million transactions, worth ₹1.75 trillion.

New contestant into the market WhatsApp Pay had completed 300,000 transactions in November, worth ₹13.87 crore. Paytm’s UPI transactions in November had penetrated 260 million, worth ₹28,986.93 crore.

Other huge players, for example, Amazon Pay, had detailed 37.15 million exchanges, worth ₹3,524.51 crore, while NPCI’s own Bhim application had handled 23.56 million exchanges, worth ₹7,472.20 crore.

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