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Axis Bank processed 95 million UPI transactions in Q3-FY18; 0.65M on SamsungPay

Axis Bank says it processed over 95 million UPI transactions during the quarter ended December 31st 2017, claiming to have the highest marketshare in the industry, of 29%. The company did not disclose how many of these were Re 1 (or low value) transactions. It's total number of transactions using UPI were over 109 million UPI (Unified Payment Interface) transactions till date across apps for its VPAs. This is a significant jump from around 11 million UPI transactions reported last quarter, so that should give you an idea of the impact that new entrants like Google Tez and Paytm's UPI integration have had. One reason for the growth in processing of UPI transations is the fact that Axis Bank is one of four partners for Google Tez, facilitating processing of payments across UPI-enabled banks. Axis Bank Marketshare Claims - Debit Cards: 7% - Credit Cards: 11% - Mobile Banking: 16% - Point of Sales terminals: 16% - UPI: 29% Axis Bank says it has a registered customer base of 9.5 million. Last quarter, it had said that it had a registered base of 4.4 million. Axis Pay, the banks UPI app has over 6.5 million VPAs. Last quarter, it had 2.1 million VPAs. SamsungPay Around 130,000+ Axis Bank cards were registered for SamsungPay in 10 months, with around 0.65 million bank accounts using the @pingpay VPA. Last quarter, this was around 93,000 cards, over 7 months, and around 0.4 million bank accounts using @pingpay. Axis Bank says it has over…

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Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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