Phone Pay has secured the top position in the Unified Payments Interface Market by beating Google Pay for the third time in a row. According to the data of the National Payments Corporation of India in the month of December, Phone Pay has left Google Pay badly behind. For the last few months, users are using phone pay a lot. This digital payment is owned by Walmart.
Talking about the figures for the month of December, Phone Pay has achieved a total of 902.3 million transactions worth Rs 181,126.88 crore. Phone Pay has a market share of 40.4 percent after this much transaction while 38.2 percent of Google Pay. Google Pay made a total of 854.49 million transactions, worth 176.199.33 crore.
75% Of Total Market Share Of Both
If you merge the phone and Google Pay, then both of them have a total market share of 75 percent as compared to all UPI apps. Paytm Payments Bank has got a third-place here which has done 261.09 million transactions. Its total value is Rs 31,299.78 crore, while the market share is 11.7 percent.
Only Axis Bank Reached The Top 5
The Axis Bank App is the only app that has made it to the top 5 UPI list. Axis Bank UPI Service has done 90 million transactions, worth a total of Rs 644.50 crore. In the list, Amazon Pay and Bhima Pay are in the fifth and sixth positions. Amazon Pay has captured a total of 1.8 percent market share.
Double Increase In Whatsapp
Samsung Pay was ranked 14th, having achieved a total of 1.61 million transactions, worth Rs 328.52 crore. The app that received double the increase is WhatsApp Pay which was launched in November. WhatsApp Pay achieved a total of 810,000 transactions valued at Rs 29.72 crore.
