Dominance Of Phonepe, Jump Of Paytm, And Huge Loss To Google Pay

Dominance Of Phonepe, Jump Of Paytm, And Huge Loss To Google Pay

Dominance Of Phonepe, Jump Of Paytm, And Huge Loss To Google Pay

The Number Of Upi Payments In The Country Is Increasing Every Month. 95.7 Percent Of Upi Transactions In The Country Are Happening Through Third-Party Apps Like Phonepe, Google Pay And Paytm. According To Data From the National Payments Corporation Of India (NPCI), In The Last One Year, Phonepe's Share In Upi Payments Has Reached About 50 Percent. During This Period, Paytm Has Taken A Huge Leap While The Share Of Google Pay Has Seen A Significant Decline. In Terms Of Value, In June This Year, Phonepe Had a 49.8 Percent Share, Paytm Had 33 Percent And Google Pay Had a 10.9 Percent Share. A Year Ago, Phonepe Had a 48.8 Percent Share, Paytm Had 9.9 Percent And Google Pay Had a 34.6 Percent Share.

Npci Has Imposed A Cap Of 30 Percent In Market Share For Individual Third Parties. This Rule Will Come Into Effect After 15 Months. Walmart-owned company Phonepe's Share In Terms Of Volume Has Increased To 47.2 Percent In June 2023, Which Was 45.8 Percent In June Last Year. Banks Are Not Earning Any Money From Upi Transactions, So Banks Have Handed It Over to third-party apps. As Far As Banks Are Concerned, Yes Bank Has The Highest Share Of 0.7 Percent In Upi Transactions. It Was Believed That The Entry Of WhatsApp could Increase Competition In Upi, But This Messaging App Has Not Been Able To Do Much until now.

Dominance Of Three Apps

According To Worldline's India Digital Payment Report, Phonepe, Google Pay And Paytm Have 95.7 Percent Share In The Transaction Volume, Which Was 94.6 Percent In June Last Year. If We Look At The Transaction Value, The Share Of These Three Apps Reached 93.7 Percent In June 2023, Which Was 93.4 Percent In June Last Year. Phonepe Has Had The Advantage Of Entering The Upi Space Sooner Than Other Apps.