Google Pay Tops UPI Transactions by Value in March
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.
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.
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