Google Tez has reported over 7.5 million users and 30 million transactions in five weeks, since its launch on September 18th 2017, Caesar Sengupta, VP (Next Billion Users) at the company disclosed yesterday. Sengupta was referencing a recent MediaNama story, where we reported that UPI had 16.6 million transactions in August 2017 alone. In September, UPI transactions increased 85% to 30.8 million. There was some confusion about whether the 30 million figure includes cashbacks from Google to users: Google is currently incentivising UPI transactions by giving cashback to users. Sengupta clarified to MediaNama that the transactions include only P2P (person to person), Cash mode and P2M (person to merchant) payments. Note that the Reserve Bank of India also publishes daily data for UPI transactions. To check whether there has been a significant impact on UPI since the launch of Tez,…
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