Walmart-owned digital payments enterprise PhonePe has retained its month-to-month pole position in the UPI-app tally for volume as nicely as worth in January 2021. The enterprise processed 968.72 million UPI transactions involving almost Rs 1.92 lakh crore. PhonePe volume was more than one hundred million transactions greater than Google’s 853.53 million transactions worth Rs 1.77 lakh crore. Paytm Payments Bank, even so, remained the distant third player with a volume of 332.69 million worth Rs 37,845.76 crore. The combined transaction volume of the 3 top UPI apps accounted for 93.5 per cent share of the total January volume of 2,302.73 million though the worth share stood at 94.5 per cent of Rs 4.31 lakh crore, according to the information released by the National Payments Corporation of India (NPCI).
PhonePe had led the December tally as nicely with 902.03 million transactions worth Rs 1.82 lakh crore processed up from 868.4 million transactions worth Rs 1.75 lakh crore processed in November. On the other hand, Google Pay had slipped to the second spot in December with 854.49 million transactions amounting to Rs 1.76 lakh crore down from 960 million transactions in November though the worth had improved from Rs 1.61 lakh crore. Paytm Payments Bank processed 256.36 million transactions amounting to Rs 31,291.83 crore in December from 260.09 million transactions worth Rs 28,986.93 crore in November.
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Transactions processed in January by other top UPI apps from online organizations which includes Amazon Pay and WhatsApp stood at 46.30 million (Rs 4,044.38 crore) and .56 million (Rs 36.44 crore) respectively. Importantly, WhatsApp’s January volume declined from .81 million transactions in December amid the messaging enterprise asking customers final month to share their information with Facebook such as make contact with quantity to continue utilizing its service. However, it later informed that the update, for which it had extended the deadline from February 8 to May 15, is associated to “messaging a business on WhatsApp, which is optional,”, it had stated in a note. WhatsApp UPI transaction worth grew from Rs 29.72 crore in December.
Jio Payments Bank processed only .41 million transactions worth Rs 27.91 crore. The general volume of transactions in January improved 3 per cent from the preceding month though the jump in the worth of transactions stood at 3.60 per cent. UPI transactions had exited 2020 with the Rs 4-lakh-crore worth mark in December involving 2.23 billion transactions.