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Google Pay Tops UPI Transactions by Value in March

In terms of transaction volume however, Paytm leads the chart, followed by PhonePe and Google Pay.

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Google Pay has topped the Unified Payments Interface (UPI) in terms of value of transactions in March 2019.

According to an Economic Times report, Google Pay clocked payments worth Rs 43,000 - Rs 45,000 crore during the month.

In terms of transaction volume however, Paytm leads the chart, followed by PhonePe and Google Pay.

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Google Pay, PhonePe and Paytm, which now process 80-90% of UPI transactions, clocked 221-225 million transactions each in March out of the total 800 million.

“Google has taken a strong lead of 20-25 percent over PhonePe and Paytm as they continue to heavily incentivise P2P (peer-to-peer) payments here. Paytm, due to its e-wallet business, still sees relatively smaller value of transactions among its users. With merchant acceptance growing further on UPI, the average transaction size and overall volumes will be an interesting mix that might see a change,” the report quotes a person aware of the UPI transaction metrics, as saying.

(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)

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Topics:  Digital Payments   Google Pay 

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