Whatsup

Current Affairs 7th April, 2021: In March, PhonePe had a 44 percent market share in the UPI network, while G-Pay had a 35 percent share

7th April, 2021 Published by: Saloni Bhatia Updated Wed, 07 Apr 2021 01:06 PM IST
Source: Amar ujala
Since December of last year, PhonePe has dominated the Unified Payments Interface, or UPI, ecosystem. In March, the company exceeded Google Pay with a market share of 43.91 percent, a large 9 percent difference.

Free Demo Classes

Register here for Free Demo Classes



According to NPCI numbers, PhonePe processed 1,199.51 million UPI transactions worth Rs 2,31,412.33 crore in March, followed by Google Play with 957.01 million transactions worth Rs 2,01,185.14 crore. In the previous month, Google Pay had a market share of 35%.

In March, UPI processed 2731.68 million transactions totaling Rs 5,04,886 crore, or Rs 5.04 trillion.

This is also the first time since UPI's introduction in 2016 that a single UPI-enabled payments app has reached the 1 billion volume mark. PhonePe handled 975.53 million transactions worth Rs 1,89,517.82 crore in February, while Google Pay handled 827.86 million transactions worth Rs 1,74,455.33 crore.

In the last month, Paytm, the third-largest UPI player, processed 344.99 million transactions worth Rs 38,653.06 crore.

Though Google Pay primarily competes with PhonePe and Paytm in the UPI space, the two Indian startups have also developed a network of other payment options, including wallets, card payments, and net banking. In March, PhonePe claimed to have processed 1.3 billion transactions through its various payment methods, while Paytm claimed to have processed 1.4 billion.

Last month, the National Payments Corporation of India (NPCI) issued standard operating procedures (SOPs) for all third-party applications, stating that the umbrella agency will notify payment platforms if their app crosses the 30% threshold. The NPCI limit will take effect on January 1, 2021, but current players such as Google Pay and PhonePe will be given a six-month or longer grace period to comply with the new regulations.

Read More: 

How To Prepare For NDA In 10 Days: Strategies , Tips and Others

Starting today, there will be a night curfew in Delhi: what is allowed and what is not

Disclaimer

अपनी वेबसाइट पर हम डाटा संग्रह टूल्स, जैसे की कुकीज के माध्यम से आपकी जानकारी एकत्र करते हैं ताकि आपको बेहतर अनुभव प्रदान कर सकें, वेबसाइट के ट्रैफिक का विश्लेषण कर सकें, कॉन्टेंट व्यक्तिगत तरीके से पेश कर सकें और हमारे पार्टनर्स, जैसे की Google, और सोशल मीडिया साइट्स, जैसे की Facebook, के साथ लक्षित विज्ञापन पेश करने के लिए उपयोग कर सकें। साथ ही, अगर आप साइन-अप करते हैं, तो हम आपका ईमेल पता, फोन नंबर और अन्य विवरण पूरी तरह सुरक्षित तरीके से स्टोर करते हैं। आप कुकीज नीति पृष्ठ से अपनी कुकीज हटा सकते है और रजिस्टर्ड यूजर अपने प्रोफाइल पेज से अपना व्यक्तिगत डाटा हटा या एक्सपोर्ट कर सकते हैं। हमारी Cookies Policy, Privacy Policy और Terms & Conditions के बारे में पढ़ें और अपनी सहमति देने के लिए Agree पर क्लिक करें।

Agree